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The EU Commission fines ethylene purchasers €260 million in cartel settlement for colluding to buy at the lowest possible price (Orbia / Clariant / Celanese / Westlake)

Antitrust: Commission fines ethylene purchasers € 260 million in cartel settlement* The European Commission has fined Orbia, Clariant and Celanese a total of € 260 million 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. Executive Vice-President of the Commission Margrethe Vestager, in charge of competition policy said: “This cartel aimed at manipulating the prices which the companies paid for their ethylene purchases. Ethylene is a flammable chemical that's used to make materials, like PVC,

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European Commission, The EU Commission fines ethylene purchasers €260 million in cartel settlement for colluding to buy at the lowest possible price (Orbia / Clariant / Celanese / Westlake), 14 July 2020, e-Competitions Preview, Art. N° 95833

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