Ethylene: Clariant rejects MOL and Braskem accusations
Keystone-SDA
Basel-based chemicals manufacturer Clariant has rejected two complaints from the MOL and Braskem groups for breaches of competition law on the ethylene purchasing market, sanctioned by the European Commission in July 2020.
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In a statement published on Monday, Clariant said it had substantiated evidence that the alleged offences had had no impact on the ethylene market.
The claims by Hungary’s MOL and Brazil’s Braskem were brought before the Munich District Court in Germany. The damages claimed amount to €548 million (CHF510 million) and €402 million respectively.
In 2020, 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 agreed to pay a fine of CHF155.8 million ($196 million).
Adapted from Frency by DeepL/ds
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