The European Commission decided, on Tuesday 14 July, to impose fines totalling €260 million on Orbia, Clariant and Celanese (out of which €155.7 million for Clariant alone) for breaching EU antitrust rules. Westlake was not fined as it revealed the cartel to the Commission.
The companies took part in a cartel concerning purchases on the ethylene merchant market. They colluded to buy ethylene for the lowest possible price. All four companies acknowledged their involvement in the cartel...