BRUSSELS (Reuters) - EU antitrust regulators raided several ethylene purchasing companies in May, including Swiss chemicals maker Clariant and U.S. rival Celanese, over concerns the firms may have participated in a cartel.
Clariant confirmed the EU investigation on Wednesday while Celanese said some of its units were being investigated. Ethylene is used to make various chemical and plastic products.
The European Commission said on Wednesday the raids occurred on May 16 in several European Union countries. It did not name the companies involved.
“The companies concerned may have violated EU antitrust rules that prohibit cartels and restrictive business practices,” the EU competition enforcer said in a statement.
Companies face fines up to 10 percent of their global turnover for breaching EU antitrust rules.
Reporting by Robert-Jan Bartunek and Foo Yun Chee; editing by David Clarke