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Citric acid price fixing

This article was originally published in The Tan Sheet

Executive Summary

Five suppliers fined $120.5 mil. (€1=$.887) by European Commission for anti-competitive, market-sharing practices from 1991-1997, EC announces Dec. 5. Firms involved are Archer Daniels Midland, Haarmann & Reimer, Cerestar Bioproducts, Hoffmann-La Roche and Jungbunzlauer. Roche incurred largest portion, roughly $56.3 mil. Each firm was charged in proportion to its size, market share, "gravity" and "duration" of infringement, EC notes. Fines for ADM ($35.5 mil.) and Roche were increased because they acted as cartel co-leaders. Roche recently was fined more than $400 mil. by EC as one of eight firms in separate vitamin price-fixing cartel (1"The Tan Sheet" Nov. 26, In Brief)...
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