Clariant rejects ethylene-purchasing cartel damage claims from MOL, Braskem
Swiss chemical firm Clariant says that the company received two claims for damages against four companies, including Clariant, from MOL Petrolkémia Zrt. and Slovnaft a.s. (MOL Group), Hungary, and Braskem S.A., Brazil, with the court of Munich, Germany.
It adds that the claims allege damages totalling to around EUR548 million and EUR402 million respectively, in relation to infringement of competition law on the ethylene purchasing market which was sanctioned by the European Commission in July 2020.
Clariant further states that it firmly rejects the allegations and will “adamantly defend its position in the proceedings”.
Clariant also said it has substantiated economic evidence that the conduct of the parties did not produce any effect on the market.
In 2020, the four companies: Clariant, Orbia, Celanese and Westlake admitted that they had colluded to purchase ethylene in order to keep the price as low as possible. As part of this infringement of competition law, the four companies reached an amicable settlement with the European Commission.
Clariant had then agreed to pay a fine of CHF155.8 million (US$196 million).
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