26 February 1996 00:00 [Source: ICB]
THE EUROPEAN COMMISSION has confirmed that it is investigating the BASF, Nippon Soda and Mitsui weedkiller production joint venture - Nisso BASF Agro.
A spokeswoman for the EC's competition directorate DGIV said that the joint venture was being scrutinised under EC Articles 85 and 86. Article 85 covers price fixing, while Article 86 looks at a company's abuse of a dominant position, such as imposing unfair price conditions. A decision is expected imminently.
BASF sees the delay in acceptance by the EC as standard procedure: 'The EC normally offers third parties ten days within which to object - we do not expect anything out of the ordinary,' said a spokesman for the company.
The joint venture agreement between the three companies, which covers manufacture of Nippon's herbicide sethoxydim and BASF's cyclohexandione, was announced in November 1995.
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