Clariant confronted with further ethylene damages claim
Keystone-SDA
Swiss chemicals group Clariant is facing a further claim for damages in connection with ethylene price-fixing agreements. LyondellBasell is claiming damages of €1.6 billion (CHF1.5 billion) in court against Clariant and three other companies.
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The lawsuit was filed with a court in Amsterdam, Clariant announced on Friday. It relates to the violations of competition law in the ethylene-purchasing market sanctioned by the European Commission in July 2020.
According to the statement, Clariant “firmly” rejects the allegations and will defend itself vigorously in the proceedings. The company has solid evidence that the behaviour of the parties had no impact on the market.
+ Swiss chemical group Clariant faces fresh price fixing probe
Clariant, Orbia, Celanese and Westlake had colluded in the purchase of ethylene in order to achieve the lowest possible price. All four companies admitted their role in the cartel in summer 2020 and agreed to a settlement. Clariant paid a fine of €155.8 million.
This means there are already six plaintiffs in the queue. Shell, BASF, TotalEnergies, Dow and OMV – in that order – have already gone before the judge in the same case.
Translated from German by DeepL/ts
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