13 April 2011 15:06 [Source: ICIS news]
LONDON (ICIS)--Consumer product giants Procter & Gamble (P&G) and Unilever have been fined a total of €315.2m ($456.8m) for fixing washing powder prices in eight countries, the European Commission announced on Wednesday.
German company Henkel, which sells Persil in some European countries, was also involved in the cartel but was not penalised because it tipped off the Commission about the price-fixing.
The Commission has evidence showing the cartel existed between 7 January 2002 and 8 March 2005, covering ?xml:namespace>
P&G received a 50% reduction in fines and Unilever 25% for cooperating during the investigation. Both companies received a further 10% reduction for quickly settling the case.
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections