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Clariant AG Fined By European Commission For Infringement Of Competition Law

Clariant AG (CLZNY.PK,CRN.L,CLZNF.PK) said the European Commission has completed its investigation into the ethylene purchasing market, and found that a single former employee of Clariant infringed on competition law. As a result, a fine of 155.8 million euros was imposed. The company noted that it made a provision for the investigation in 2019.

Clariant stated that it deeply regrets the incident and is disappointed that its culture of compliance, based on a Code of Conduct and an antitrust compliance program including a multitude of tailored antitrust trainings, was not upheld.

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