Akzo Nobel blows the whistle

Dutch chemical group AkzoNobel has received full immunity from a €17.4m fine which would otherwise have been imposed by the European Commission following an investigation into price fixing involving the company's Calcium Carbide business between November 2004 and November 2006.

According to chemie.de the infringement was reported to the European Commission by AkzoNobel at the end of 2006 and an application for immunity was made. It quotes the company as saying: "AkzoNobel regrets the inappropriate actions taken by certain individuals and stresses that the breach was reported internally through the company's intensified competition law compliance program. Immediate steps were then taken to report the infringement to the appropriate authorities and AkzoNobel has cooperated fully throughout the investigation."

Brenntag responds to German cartel investigation

Today I spoke to Steve Holland, Brenntag Europe's CEO. He assured me the investigation (see earlier entry) is routine. He said the jv had been approved by competition authorities which now want to check that it meets the latest regulations.

“When this jv was formed over 10 years ago it went to the German authorities for approval. They looked at it and said ‘that’s fine’," Holland said.

“Now, the Bundeskartellamt are looking at this kind of joint venture where the two shareholders are involved in the industry. We’re very happy that all our customers are being properly dealt with. And we don’t have an issue with the Bundeskartellamt asking if this is appropriate under the latest anti-competitive legislation.”