media release

European Commission Grants Akzo Nobel Immunity

Akzo Nobel has been given full immunity by the European Commission for breaching competition rules after the company was the first to confirm the existence of an organic peroxides cartel.

The price-fixing agreement—which ran from 1971 to 1999—involved a number of other companies, who were recently fined a total of EUR 70 million by the Commission for their malpractice.

The fines imposed ranged from EUR 1,000 to EUR 43 million, but Akzo Nobel—which has reinforced its compliance efforts over the last few years—was granted exemption from any financial penalties after volunteering details about the cartel in 2000.

(Released: December 11, 2003)