Clariant rejects claims from BP, ExxonMobil for EUR2 bn over ethylene cartel
Swiss chemical firm Clariant announced that it has received two claims from BP Europe SE and ExxonMobil Petroleum & Chemical B.V for damages against four companies, including Clariant, with the court of Munich and Dortmund respectively, both in Germany.
The claims allege damages totalling to around EUR1.1 billion by BP and EUR860 million by ExxonMobil, in relation to infringement of competition law on the ethylene purchasing market which was sanctioned by the European Commission in July 2020.
The firm says it firmly rejects the allegations and “will adamantly” defend its position in the proceedings. Clariant furthers it has substantiated economic evidence that the conduct of the parties did not produce any effect on the market.
The allegations pertain to the ethylene purchasing market and were initially sanctioned by the European Commission in July 2020. The claims suggest that the involved companies, including Clariant, engaged in anti-competitive practices.
The four companies including Celanese, Clariant, Orbia, and Westlake were found guilty in 2020 by the EC of fixing the purchasing price of ethylene in parts of Europe between 2011 and 2017.
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