Total, Arkema to appeal monochloroacetic acid fine decision

13 October 2009 12:50  [Source: ICIS news]

BRUSSELS (ICIS news)--Total and Arkema will appeal against last month’s decision by the European Court of First Instance to uphold fines imposed for their part in a cartel in the monochloroacetic acid (MCAA) market, Arkema confirmed on Tuesday.

A spokeswoman for Arkema said “the procedure will take place at the beginning of December 2009”.

In 2005, the European Commission imposed fines totalling €216.91m ($147.49m) on AkzoNobel, Arkema, Elf Aquitaine – now owned by Total – and Hoechst for their part in participating in a cartel from 1984 to 1999.

AkzoNobel and Hoechst were forced to pay fines of €84.3m and €74.03m, respectively.

Elf Aquitaine and Arkema were ordered jointly and severally to pay €45m, and Arkema was also ordered in its own right to pay €13.50m. 

The court ruled at the end of September that the European Commission must reimburse former German chemicals major Hoechst for 10% of the fine that it was ordered to pay for taking part in anti-competitive behaviour.

However, the judges upheld the fines on AkzoNobel, Elf Aquitaine and Arkema.

MCAA is a substance used as a chemical intermediate, particularly in the manufacture of detergents, adhesives, textile auxiliaries and thickeners used in foods, pharmaceuticals and cosmetics.

($1 = €0.68)

Read Paul Hodges’ Chemicals and the Economy Blog
To discuss issues facing the chemical industry visit ICIS connect

By: Philippa Jones
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly