Clariant receives fine following a European competition law investigation
- European Commission completed investigation into the ethylene purchasing market
- Company found liable for infringement of competition law by former employee
- Fine imposed of EUR 155.8 million
Muttenz, July 14, 2020 – Clariant, a focused, sustainable and innovative specialty chemical company, today announced that a fine of EUR 155.8 million was imposed as the European Commission has completed its investigation into the ethylene purchasing market. Clariant made a provision for the investigation in 2019.
According to the extensive investigation conducted by the European Commission a single former employee of Clariant infringed on competition law. As a result, Clariant was found liable for this conduct and received a fine.
Clariant deeply regrets the incident and is disappointed that its strong culture of compliance, based on a clear Code of Conduct and an antitrust compliance program including a multitude of tailored antitrust trainings, was not upheld. The company has assisted the relevant authorities throughout the entire investigation and has fully cooperated with the European Commission, a fact that has been recognized and reduced the fine. Clariant will continue to promote the highest ethical standards and ensure compliance in the future.
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