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 financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people.
more »
Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment.
more »
The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn.
more »
The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country.
more »
The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF).
more »
Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.
more »
Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday.
more »
Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date.
more »
75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU.
more »
The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia.
more »