Large fine by the European Commission to cartel

The E.C decided to impose a fine of 519 million Euro to an industrial cartel related to the chemical industry.

This is the largest fine ever aginst the illegal practice of industries, of creating cartels and manipulating the prices. The period investigated was from 1996 to 2002.

The companies fined are:

Royal Dutch Shell

ENI

Dow Chemical

Unipetrol

Trade-Stomil

Bayer that was accused also of being a member of this cartel, evaded the penalty of 204 million Euros , because it promptly informed the competition authorities of its practicies along with the rest of the corporations involved.

Without Bayer’s testimony it would be hard to convict all other companies in such an extent.

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