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 and agreed to settle the case.
The Commission's investigation revealed that from December 2011 to March 2017, during the process of establishing the monthly contract price or MCP, four ethylene purchasers coordinated their price negotiation strategy vis-à-vis the ethylene sellers to influence the MCP to their advantage. They were Westlake (United States), Orbia (Mexico), Clariant (Switzerland) and Celanese (United States).
The practices covered the territory of Belgium, France, Germany and the Netherlands. The four companies colluded to lower the value of ethylene to the detriment of ethylene sellers. Details: https://bit.ly/2Ctr1sB (Original version in French by Lionel Changeur)