The European Commission today imposed fines totalling €173 million on two cartels that it said were guilty of rigging the market for plastic additives.

The firms fined include Akzo, Baerlocher, Ciba, Elementis, Elf-Aquitaine, GEA, Chemson, Faci, Reagens and AC Treuhand. Many of the firms participated in both cartels.

Announcing the fines, Neelie Kroes, the European commissioner for competition, said that the firms had fixed prices, allocated markets and shared customers in the period 1987-2000. Products covered by the cartels included heat and tin stabilisers and plasticisers.

US firm Chemtura Corporation took part in the cartels but was given immunity after exposing the cartels to the Commission.

The largest fines were handed down to Ciba, which will have to pay
€68.42m, and Akzo, which will have to pay €40.6m.