NorskeCanada blows whistle on price fixing
May 31, 2005 By Pulp & Paper Canada
The Vancouver Sun has reported that NorskeCanada is in the throes of a class action lawsuit that accuses nearly 24 …
The Vancouver Sun has reported that NorskeCanada is in the throes of a class action lawsuit that accuses nearly 24 chemical companies of taking part in a price-fixing scheme. The lawsuit alleges that chemical companies including the Solvay group, colluded to fix the price of hydrogen peroxide, a chemical that NorskeCanada spends roughly $1 million on annually for its mills in BC. The suit further avows that executives of the companies met secretly to illegally fix prices of the chemical, which would effectively curb any competition. The paper further reported that 18 companies were recently subjected to anti-trust charges in Europe, following an investigation by the European Commission. A judge must still agree to the class action status of the lawsuit and a statement of defense has not yet been filed.
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