FX.co ★ Clariant Rejects BASF's Allegations Related To 2020 Competition Law Infringement

Specialty chemicals firm Clariant AG has disclosed that on January 9, it was named in a damages claim filed by German chemical company BASF in the Munich court. This claim involves four companies, including Clariant, in connection with a competition law violation dating back to 2020. The legal action seeks damages of 1.4 billion euros, citing breaches within the ethylene purchasing market, for which the European Commission imposed sanctions in July 2020. Clariant firmly denies these allegations and intends to vigorously defend its stance during the proceedings. The company has presented economic evidence suggesting that the actions in question did not impact the market.