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Belgian and Dutch companies to plead guilty to price-fixing

15/03/2006
According to the US Department of Justice, Belgium-based Solvay S.A. and Netherlands-based Akzo Nobel Chemicals International B.V., have agreed to plead guilty and to pay a total of more than $72 million in criminal fines for their participation in international price-fixing cartels in the chemicals industry.

These are the first charges as a result of the Justice Department's ongoing anti-trust investigations into the hydrogen peroxide and sodium perborates industries. Akzo Nobel has agreed to pay a $32 million criminal fine for participating in an international conspiracy to fix prices in the hydrogen peroxide market. Solvay has agreed to pay a $40.8 million criminal fine for participating in international conspiracies to fix prices in both the hydrogen peroxide and sodium perborates markets. Solvay and Akzo Nobel's roles in the conspiracies affected nearly $350 million in United States commerce, the Department said.

In two cases filed in San Francisco, Solvay and Akzo Nobel were charged with conspiring with their competitors to fix the price of hydrogen peroxide sold in the United States and elsewhere from July 1, 1998 to December 1, 2001. Solvay was also charged with conspiring to fix the price of sodium perborates sold to Procter & Gamble from June 1, 2000 to December 1, 2001. Under the plea agreements, which must be approved by the court, Solvay and Akzo Nobel agreed to assist the government in its ongoing hydrogen peroxide and sodium perborates investigations.

Hydrogen peroxide has multiple industrial uses, including applications in the textiles, pulp and paper manufacturing industries.


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