European Commission fines P&G Unilever € 315.2 million cartel

European Commission fines P&G and Unilever € 315.2 million for cartel

12:18 PM, 15th April 2011
European Commission fines P&G and Unilever € 315.2 million for cartel

 

BRUSSELS, BELGIUM: The European Commission fined Procter & Gamble and Unilever a total of € 315.2 million for operating a cartel together with Henkel in the market for household laundry powder detergents in eight European Union countries. The fine on the two companies includes a 10 per cent reduction for acknowledging the facts and enabling a swift conclusion of the investigation. Henkel got immunity for revealing the cartel to the commission. The three companies are the leading producers of washing powder in Europe.

“By acknowledging their participation in the cartel, the companies enabled the commission to swiftly conclude its investigation and for this they got a reduction of the fine. But companies should be under no illusion that the commission will pursue its relentless fight against cartels, which extract higher prices from consumers,” said Joaquín Almunia, VP- Competition Policy, European Commission.

The commission has evidence showing that the cartel existed at least between 7 January 2002 and 8 March 2005. The cartel covered Belgium, France, Germany, Greece, Italy, Portugal, Spain and The Netherlands. The cartel lasted some three years and aimed at stabilising market positions and at co ordinating prices in violation of EU and EEA antitrust rules (Article 101 of the EU treaty and Art 53 of the EEA agreement). This is the third cartel settlement in a year.

(C) WOC News

 

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