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 ?xml:namespace>
AkzoNobel and Hoechst were forced to pay fines of €84.3m and €74.03m, respectively.
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
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)
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