Chemical companies to face fines for choline price-fixing
BASF and Belgium's UCB for their role in fixing prices on choline
chloride, according to a report.
Reuters quoted a spokesman for BASF as saying the action was a follow-on to a major vitamin cartel case from 1999 that had targeted other vitamin products but delayed action on choline chloride, also known as vitamin B4, for reasons unclear to them.
The Commission will meet tomorrow to fine some of those involved in the cartel, including three other non-European companies, a source told the news agency.
The Commission previously fined eight companies in 2001 a total of €855 million for the cartel, including a €296 million fine paid by BASF.
The firms have also been fined by the US, to the sum of $725 million.
Last year a US Federal District Court jury found that Japan's Mitsui & Co and three other companies fixed the price of choline chloride and fined them $147 million.
Choline chloride, widely used in animal feed and pet foods, is also known as vitamin B4. It is found in egg yolks, meat, and foods with high fat and high cholesterol. With reduction in consumption of these foods, there is an increasing trend to supplement with the vitamin.
Akzo Nobel is a leading producer of choline chloride with production facilities in Italy, the Netherlands and China.
