Press Release: Antitrust: Commission imposes EUR216.91 million in fines on MCAA chemicals cartel

The European Commission fined Akzo Nobel, Atofina (now known as Arkema) and Hoechst a total of €216.91 for operating a cartel in the market for Monochloroacetic Acid (MCAA), 19 January 2005. MCAA is a chemical intermediate used in the manufacture of detergents, adhesives, textile auxiliaries and thickeners used in foods, pharmaceuticals and cosmetics. The level of fines confirmed the Commission's determination to crack down on companies entering into cartel arrangements. The fines on Atofina and Hoechst were increased substantially as both had previously been fined for similar illegal behaviour.

• Primary Source