EU fine of $228M for animal phosphates cartel

January 1, 1970 - Views : 1696
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BRUSSELS – European Union regulators say they have fined 13 chemical producers euro175.6 million ($227.52 million) for fixing the price of animal feed phosphates, nutrients added to food for cattle, pigs, poultry, fish and pets.

Tessenderlo Chemie NV of Belgium received the biggest fine of euro83.7 million. France's Timab Industries SA and Compagnie Financiere de Participation Roullier shared a euro59.8 million penalty. Spain's Ercros SA was fined euro14.85 million.

A Tuesday statement from the European Commission said secret agreements to coordinate prices, allocate customers and market shares and set quotas ran from March 1969 until February 2004, when Finland's Kemira Oyj blew the whistle.

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