Keystone-SDA
Clarifying “firmly rejected” the request for compensation made by Lyondellbasell against four companies including the Rhénan group. The Houston chemist claims a total of 1.6 billion euros in compensation concerning a cartel on the ethylene market.
(Keystone-ATS) The complaint was filed in court in Amsterdam, in the Netherlands. Clariant clarified that he was going to “categorically defend his position”, considering having evidence demonstrating that the behavior of the parties referred to in the complaint “did not have an effect on the market”, according to a press release.
Clariant had faced a similar procedure in late May on the part of the Austrian oil company OMV, which claims 1 billion euros. At the start of the year, the German Basf and the Totalnergies had filed similar complaints, demanding compensation for 1.4 billion and 625 million euros respectively.
In 2020, Clariant, Orbia, Celinese and Westlake had admitted to having agreed for the purchase of ethylene in order to maintain the price as low as possible.
Within the framework of this violation of competition law, the four companies had concluded an amicable agreement with the European Commission. Clariant had agreed to pay a fine of 155.8 million francs.
