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
According to Spain's Minister of Industry, Tourism and Trade, Miguel Sebastián, currently chairing an Informal Energy Council today in Seville, the key to achieving a common EU energy market is to establish interconnections.
more »
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), announced today that the Fund will provide US$100 million very rapidly in emergency financing to Haiti to assist it in dealing with the aftermath of the massive and devastating earthquake that has hit the country.
more »
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement on Jamaica today.
more »
The Government of the Republic of Korea and the International Monetary Fund (IMF) announced today that they will jointly host a high-level international conference on Asia in Seoul, South Korea, during July 12-13, 2010.
more »
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), will travel to Tokyo and Hong Kong SAR, January 18−20, 2010.
more »
After lots were drawn, ten winners of Danske Bankas scholarships and one winner of an iPod shuffle player were established.
more »
The Meeting is convened on the initiative and by the resolution of the Management Board of the Bank.
more »
Today, Thursday, on the second and last day of their informal meeting in La Granja (Segovia), the ministers responsible for European Affairs will study the challenge of how to boost reflation through sustainable growth that generates new employment.
more »
How well-equipped are European companies to meet the challenges of global competition and the recent recession? The 2009 European Company Survey provides some clues.
more »
The European Commission decided today not to raise any objections to Finland's plan to support infrastructure investments in Vaasa regional airport.
more »