Chemical Week Magazine :: Business & Finance :: Europe/Mideast
Europe Repeals Cartel Fines Against Elementis and the Former Ciba
10:48 AM MDT | July 8, 2011 | â€”ian young
The European Commission says it has repealed a November 2009 decision to impose fines on Elementis (London) and the former Ciba Specialty Chemicals for participating in a price-fixing cartel for heat stabilizers used in the manufacture of polyvinyl chloride. BASF acquired Ciba in 2009. A March 2011 decision by the European Court of Justice in a separate case clarified that the commissionâ€™s 2009 decision was â€śincorrect,â€ť the commission says. Ciba and Elementis participated in the cartel only until 1998, even though the cartel continued to operate until 2000...
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