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Regions :: Western Europe :: Belgium

Europe’s ‘Paraffin Mafia’ Is Punished

11:03 AM MDT | October 6, 2008 | Chemical Week Editorial Staff

The European Commission has fined nine companies a combined €676 million ($974 million) for conspiring to fix prices of paraffin wax between 1992 and 2005. Sasol, Total, and ExxonMobil received the highest fines of €318.2 million, €128.2 million, and €83.6 million, respectively. The other fined companies are ENI (Rome), Hansen & Rosenthal (Hamburg), MOL (Budapest), Repsol, RWE (Essen, Germany), and Tudapetrol (Hamburg). Shell was also a member of the price-fixing cartel but its €96-million fine was rescinded because the company...

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