SODIUM GLUCONATE CARTEL : COURT CONFIRMS COMMISSION'S ACTION.
The case brought by the American multinational Archer Daniels Midland Inc was dismissed by the Court of Justice of the European Communities, on 19 March. The agro-industrial firm was seeking the annulment of an earlier ruling by the Court of First Instance (CFI), which had ordered it to pay a fine of 10.13 million for its participation in a sodium gluconate cartel.
On 2 October 2001, ADM and five other companies were fined a total of 37.13 million for having fixed the prices of sodium gluconate and divided up the market for this product, a chemical substance used primarily to clean metal and glass, with applications such as bottle washing, the cleaning of utensils and paint removal. The decision was handed down after a detailed investigation showed that between 1987 and 1995 these companies, which together accounted for almost all production worldwide, had implemented a concerted agreement.
On 21 December 2001, ADM lodged an appeal before the Court of First Instance against the decision. That appeal was rejected by the CFI, on 27 September 2006. ADM then attacked the CFI's ruling before the Court of Justice, which rejected the appeal entirely "as in part unfounded and in part inadmissible".
The European Commission welcomed the ruling: "This judgement is important because it confirms that the Commission and the Court of First Instance correctly assessed the gravity of the cartel".
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|Title Annotation:||Archer Daniels Midland International Ltd. into regulations for developing sodium gluconate|
|Article Type:||Brief article|
|Date:||Mar 20, 2009|
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