Vitamin makers, including European firms Roche and BASF, have been fined a record 855m euros ($752m) by the EU for operating an illegal price cartel.
Published:
22 November 2001 y., Thursday
The cartel forced consumers around the world to pay more for products containing vitamins.
Between 1990 and 1998, salesmen from several companies were said to have agreed cartel prices for different vitamins.
The fine is the largest the EU has ever imposed, beating the 273m euro penalty handed down to the Trans-Atlantic Conference Agreement of ocean shippers in 1998. The EU said Roche, a Swiss firm, was the "main instigator" of the cartel.
It was fined 462m euros for its part in the price fixing while German firm BASF received a 296m euro fine for its "paramount role".
Roche said it had made financial provision for the fine, which was "within the range of expectations". BASF said its fine was "inappropriately high".
Both companies said they were considering appealing.
Others fined smaller amounts included the German/US firm Merck, Aventis of France, Belgium's Solvay and Japanese producers Daiichi, Takeda and Eisai.
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BBC News
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