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.
Šaltinis:
BBC News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission has today decided to close the formal investigation procedure into the agreement between Bratislava Airport in Slovakia and Ryanair after concluding that the airport operator acted as a market economy investor and therefore no advantage has been granted to Ryanair.
more »
The coffee industry of Jamaica represents one the largest earners of foreign exchange, approximately US$30 million in 2008.
more »
On January 13, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Mauritius.
more »
The World Bank's International Development Association and the International Monetary Fund have agreed to support US$1.6 billion in debt relief for the Islamic Republic of Afghanistan.
more »
The Common Agricultural Policy plays a critical role in helping farmers to deliver environmental goods and services, provided that policies are targeted in the right way.
more »
Regional Policy Commissioner Paweł Samecki will meet Croatia's Prime Minister Jadranka Kosor and members of her government in Zagreb on 25-26 January to discuss the country's preparations for accession in the context of the EU cohesion policy.
more »
The World Bank Board of Directors today approved US$20 million for the Dominican Republic in support of the Municipal Development Project, which aims to improve the technical and financial capacity of local governments.
more »
The European Investment Bank (EIB) is lending EUR 400 million to Ford Romania SA for the expansion and refurbishment of the company’s existing car assembly plant located in Craiova in the South-West of Romania.
more »
The Agriculture Council of the European Union has examined ways to improve the functioning of the food supply chain with the ultimate aim of controlling the fluctuation in prices and ensuring a more equitative distribution of the added value throughout the chain.
more »
The European Commission has today approved an application from Lithuania for assistance under the Globalisation Adjustment Fund (EGF).
more »