EC fines Akzo over price fixing

Published:  17 November, 2009

AMSTERDAM: Dutch company AkzoNobel NV confirmed that it has received a fine of "up to euro 40.6m" from the European Commission...

following an investigation into price fixing with other chemical companies. Akzo said it will "analyse the decision" and that it can file an appeal before the European Court of First Instance within two months, adding that it was unable to provide additional details about the timing and amount of the payment. The European Commission said earlier today that it had fined 10 chemical companies a total of euro 173m for fixing prices of heat stabilisers in two separate cartels. Akzo stated that the businesses concerned had been divested in 2007.

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