German and Japanese methionine companies manipulate the market and the European Union intervenes
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Last Update: 2002-07-04
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Source: Internet
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Author: User
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Lead: Brussels, July 2 (Xinhua) -- the European Commission announced on July 2 that it would impose a total fine of up to 127 million euros on German and Japanese companies for jointly manipulating the market price of methionine The European Commission said in a statement that the German company Degussa Pharmaceutical Group, the Japanese soda company and the French company Aventis all produce an animal feed additive called methionine Since 1986, the three companies have formed secret cartels to manipulate the price of methionine market in the EU for 13 years, which has seriously damaged the interests of European consumers The European Commission said the French company Aventis was exempted from punishment for actively exposing and proving the existence of the cartel, while the Japanese soda company took the initiative to cooperate in the investigation, reducing the fine to 9 million euros Germany's Degussa, the world's largest methionine producer, has been fined € 118 million for its "negative" treatment of the Commission's investigation It is reported that the annual sales of methionine in the 15 countries of the European Union is about 260 million euros (author:) share to feed Weibo share to:
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