EU repeals cartel fines against Ciba/BASF Elementis

EU repeals cartel fines against Ciba/BASF and Elementis

3:10 PM, 6th July 2011
EU repeals cartel fines against Ciba/BASF and Elementis

BRUSSELS, BELGIUM: The European Commission has repealed a decision of 11 November 2009 finding a cartel in the market for heat stabilisers in so far as it concerns the companies Ciba/BASF and Elementis.

A judgment of the court of justice of 29 March 2011 in an unrelated case clarified the legal rules as to limitation periods for the imposition of fines by the EU under Articles 101 and 102 of the treaty. As a result of that clarification, it was clear that the Commission decision of 2009 was incorrect in that the limitation period on these two companies had expired.

As a result of the decision, Ciba/BASF and Elementis will have to pay no fine for their participation in the heat stabilisers cartel. The 2009 decision remains valid for the nine other undertakings which took part in the cartel.

By decision of 11 November 2009 the Commission imposed a total of €173.8 million fines on the participants of the heat stabilisers cartel. The cartel, which was accused of price fixing, lasted until 2000 but Ciba/BASF and Elementis only participated in it until 1998. As a result, the fines imposed on them 68.4 million for Ciba/BASF and 32.6 million for Elementis will be repealed.

(C) WOC News

 

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