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Clariant to fight $1.4 billion ethylene claim from BASF
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Clariant to fight $1.4 billion ethylene claim from BASF
Jan 14, 2025 6:46 AM

BERLIN, Jan 14 (Reuters) - Clariant said it

would defend itself against a claim from German rival BASF

seeking 1.4 billion euros ($1.4 billion) in damages

from a group of companies, including Clariant, fined by the EU

for colluding in the purchase of ethylene before 2020.

Clariant was served with a claim targeting four companies on

Jan. 9, the Swiss chemicals group said in a statement issued

late on Monday.

The European Commission in 2020 fined Clariant, Mexico's

Orbia and U.S. group Celanese a total of 260

million euros for colluding to keep the price of ethylene

purchases low, breaching European Union antitrust rules.

The EU Commission said at the time that Westlake

also took part in the purchasing cartel but was spared a fine

because it revealed the activities to the Commission.

Clariant said it had evidence that the conduct of the

parties did not have any effect on the market.

"Clariant firmly rejects the allegation and will adamantly

defend its position in the proceedings," it added.

BASF did not respond to an emailed request for comment.

A Clariant spokesperson confirmed that BASF's claims were

directed at the four companies and that there would have to be a

separate decision on how any compensation payment is to be

distributed among them once there is a legally valid verdict.

The other companies did not immediately respond to requests

for comment.

BASF's claim was filed with a Munich court, alleging damages

from infringements of EU competition rules in the 2020 case,

according to Clariant.

Clariant shares were down 1.5% as of 1300 GMT.

The EU Commission also said in 2020 that the four companies

acknowledged their involvement in the cartel and agreed to

settle the case.

($1 = 0.9747 euros)

(Writing by Rachel More and Ludwig Burger; editing by Jason

Neely, Miranda Murray and Emelia Sithole-Matarise)

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