September 16, 2009
EU court upholds antitrust fine on Akzo Nobel
Europe's highest court has upheld a EUR21 million (US$31 million) fine levied against Dutch chemicals conglomerate Akzo Nobel NV for its part in fixing prices and sharing out markets for animal feed additive choline chloride.
Choline chloride or vitamin B4 is mainly used in animal feed.
Akzo was fined in 2004 for participating in a cartel for six years with German chemical giants BASF AG and Belgian drugs company UCB SA in both European and global markets.
Akzo had appealed the case on the basis that they should not be fined for the cartel activities of four of its subsidiaries that were commercially independent.
But the European Court of Justice ruled that because Akzo owns 100 percent of the four units, it is presumed that the parent company controls their actions in the marketplace and as such remains liable for their anti-competitive behaviour.
