17 June 2003 15:37 [Source: ICIS news]LONDON (CNI)--UK’s Lucite is being investigated by the European Commission(EC) over alleged anti-competitive practices in the methacrylates market, a company official confirmed to CNI on Tuesday.
The investigation began in March and could last for up to two years, said the spokesman, adding that it was still in the early stages. Further details were not disclosed.
Lucite, formerly known as Ineos Acrylics, is the world's leading producer of methyl methacrylate (MMA).
On 25 March, the EC carried out a series of simultaneous and unannounced inspections at the premises of major European producers of methacrylates as well as hydrogen peroxide, softening agents and solvents.
The EC said the purpose of these inspections was to ascertain whether there is evidence of suspected price fixing, market and customer allocation, and exchange of confidential commercial information in these markets.
France's Atofina, Belgium's Solvay and German chemical companies Celanese and BASF were also involved in the EC's cartel investigations.
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