The European Commission Wednesday said it is fining washing powder producers a total of EUR315.2 million for operating a cartel in eight European Union countries.

In a statement, the EU's antitrust body said it is fining Proctor & Gamble Co. (PG) EUR211.2 million and Unilever NV (UN) EUR104.0 million.

The third member of the cartel, Henkel AG & Co. KGaA (HEN.XE), won't be fined because it revealed the cartel to the commission in 2008.

The fines imposed on the other two companies were also reduced for "acknowledging the facts and enabling a swift conclusion of the investigation," the statement said.

The cartel covered Belgium, France, Greece, Germany, Italy, Portugal, Spain and the Netherlands.

It concerned powder detergents used in washing machines and evidence showed the cartel existed at least between January 2002 and March 2005.

Settlement discussions started in the second half of last year.

In the statement, Joaquin Almunia, vice-president of the commission in charge of competition policy, said: "Companies should be under no illusion that the commission will pursue its relentless fight against cartels."

-By Laurence Norman, Dow Jones Newswires; +32 (0)2 741 1 481; laurence.norman@dowjones.com

 
 
Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jun 2024 bis Jul 2024 Click Here for more Unilever NV Charts.
Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jul 2023 bis Jul 2024 Click Here for more Unilever NV Charts.