EU Commission fines Ciba, Akzo over price-fixing

BRUSSELS, Nov 11 (Reuters) - The European Commission issued fines totalling 173 million euros to 24 companies on Wednesday for their part in a cartel that involved fixing prices for heat stabilisers.

The biggest fine the EU executive issued was to Swiss group Ciba (BASF.DE), which was told to pay 61.3 million euros for its part in two cartels overseeing the pricing of two forms of heat stabiliser, products which are involved in making PVC products more rigid.

Dutch group Akzo (AKZO.AS) was fined a total of 40.6 million euros, the Commission said in a statement. France's Elf Aquitaine (TOTF.PA) was fined 28.6 million.

Italian, British, Dutch and Australian firms were also fined. A U.S. company, Chemtura, had its fine cancelled for raising the cartel issue with the Commission.

(Writing by Luke baker, editing by Timothy Heritage)