Although the Commission had not verified whether the price manipulation was successful, it deemed these practices as an agreement to restrict competition within the ethylene market.
Clariant Loses €155M Chemical Cartel Fine : A Pivotal Rejection
The Commission had further sought to repeal a 10% reduction in the fine for cooperation with the EU executive during the settlement of the fine. Their argument asserted that Clariant had questioned facts they had confirmed during the administrative procedure. However, the General Court vehemently rejected this, refusing to increase the fine to €181 million.
In an additional blow, the Court ordered Clariant to bear 90% of the Commission’s legal costs.
Timeline of the Violations
The Commission imposed this substantial fine after discovering that Clariant had been involved in exchanging sensitive commercial and pricing-related information while fixing a price element associated with ethylene purchases in Belgium, Germany, France, and the Netherlands from December 26, 2011, to March 29, 2017.
Silent on the Verdict
In response to the verdict, Clariant maintained silence, refraining from issuing an immediate comment on the ruling. The European Commission spokesperson, on the other hand, acknowledged the judgment and highlighted its significance.
