23 March 2009 15:33 [Source: ICIS news]
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LONDON (ICIS news)--The European Commission has sent charge sheets to a number of companies it suspects of breaking EU antitrust laws in the market for heat stabilisers, it said on Monday.
The action represents the start of legal proceedings which could lead to possible fines for operating a pricing cartel in violation of EU competition rules.
The charge sheet, known as a statement of objections, concerned two categories of heat stabilisers, tin stabilisers and epoxidised soybean oil/esters, which are used during the manufacture polyvinyl chloride (PVC) products.
AkzoNobel said it was analysing the statement of objections and would prepare its defence over the next two or three months.
Part of its former Akcros Chemicals PVC additives subsidiary, AkzoNobel sold its heat additives business to GIL Investments in 2007.
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