Essential reading for retailers and suppliers in the home improvement market

Akzo Nobel fined €40.6m for price fixing

Published: 12 November 2009
Decorative paints and chemicals firm ordered to pay out following an investigation by the European Commission.
The fine of up to €40.6m was imposed following an investigation into price fixing of plastic additives involving Akzo's former tin stabilizers and Esbo/Esters businesses. Both businesses were divested in 2007.

The Dutch company, which also owns the Dulux and Hammerite brands, cooperated fully with the investigation but said that it will now "analyse the merits of the decision". It has two months with which to lodge an appeal.

The European Commission jointly fined Akzo, Swiss chemical firm Ciba, French petrol firm Elf Aquitaine and seven other companies, €173m. The Commission claimed that the companies had fixed prices, shared customers, carved up markets and exchanged commercial information from 1987 to 2000 for plastic additives tin stabilisers and esbo/esters, which are used in packaging, bottles and other plastic products.

Akzo Nobel stressed that it has a "strict zero tolerance policy" throughout the company for any anti-competitive behaviour.

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

What do you think?


Are you confident of strong garden sales this season?


Latest reader comments

re: B&Q invites suppliers to pitch at Innovation Open Day

Brian Eacersall
Hi B & Q innovations Team.I have already sent in an e-mail outlining my design using the request to become a supplier route.However I ...

re: Toolstation.com excels in Which? website survey

Muhammad idrees
Good service and price also good...

re: Mike Ashley calls Debenhams administration a “national scandal”

m orourke
How can senior management at debenhams stay in post whilst abdicating their responsibilies to a bunch of consultants to save the buisness ...

re: B&Q and Valspar partnership to "transform the paint market in the UK"

Tony Turner
A bit of context: first decorating undertaken in 1968, have continued to decorate at DIY and professional level ever since, Wife has ...

re: Builder wins Toolstation's prize draw pick-up

Brian Easton
Brilliant delivery, much help from Daniel and Shakil...

Most read stories