Finland's Kemira to pay €12.7m in hydrogen peroxide cartel lawsuit

16 October 2017 13:46 Source:ICIS News

LONDON (ICIS)--Kemira has agreed to pay €12.7m in compensation and legal costs to CDC Hydrogen Peroxide SA in a lawsuit in Dortmund, Germany, relating to historical infringement of competition law, the Finnish chemical producer said on Monday.

"We are satisfied with the settlement as it removes the uncertainty related to the litigation case for [hydrogen peroxide (HP)] business conducted in 1994-2000", said Jari Rosendal, President and CEO.

Kemira said it would continue to defend pending legal action filed by CDC in Amsterdam, the Netherlands, relating to alleged old infringement of competition law in the sodium chlorate business over the same time frame.

In May 2014, Kemira said it had agreed to pay CDC €18.5m to settle a lawsuit in Helsinki, Finland, for the same infringement in the HP business.

CDC was set up to enforce antitrust damage claims against what it called the "hydrogen peroxide cartel" in the European Economic Area (EEA).

The European Commission ruled in May 2006 that a number of companies had infringed EU treaties by participating in a "single and continuous infringement" regarding HP, and named companies like AkzoNobel, Solvay, Total, Evonik and Kemira, among others.

HP is used in the pulp and paper industries.

By Graeme Paterson