11:21 AM EDT, 10/03/2025 (MT Newswires) -- Swiss specialty chemicals company Clariant said Friday it rejects allegations from BP Europe (BP) and a unit of ExxonMobil ( XOM ) who are seeking damages for breaches in competition law in the ethylene purchasing market.

The claims allege damages of 1.96 billion euros ($2.30 billion) against four companies including Clariant in lawsuits filed in Germany, the company said.

"Clariant firmly rejects the allegations and will adamantly defend its position in the proceedings," the company said, adding that it has "substantiated economic evidence that the conduct of the parties did not produce any effect on the market."

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