Clariant to defend EUR1.4 bn claim by BASF related to ethylene purchasing cartel
Swiss chemical firm Clariant has said it will defend itself against a claim made by German rival BASF seeking EUR1.4 billion in damages from a group of companies, which includes Clariant, fined by the EU for colluding in the purchase of ethylene before 2020.
Clariant was served with a claim targeting four companies early this year, the Swiss chemicals group said in a statement. It expects to defend the claim in court.
The European Commission in 2020 fined Clariant, Mexico's Orbia and US group Celanese a total of EUR260 million for colluding to keep the price of ethylene purchases low, breaching European Union antitrust rules.
The EU Commission said at the time that US firm Westlake also took part in the purchasing cartel but was spared a fine because it revealed the activities to the Commission.
Clariant said it had evidence that the conduct of the parties did not have any effect on the market.
"Clariant firmly rejects the allegation and will adamantly defend its position in the proceedings," it added.
According to a Reuters report, a Clariant spokesperson confirmed that BASF's claims were directed at the four companies and that there would have to be a separate decision on how any compensation payment is to be distributed among them once there is a legally valid verdict.
BASF's claim was filed with a Munich court, alleging damages from infringements of EU competition rules in the 2020 case, according to Clariant.
The EU Commission also said in 2020 that the four companies acknowledged their involvement in the cartel and agreed to settle the case.
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