The European Union's highest court on Thursday upheld a 118-million-euro cartel fine against German chemical company Degussa.
Six years ago, the European Commission fined Degussa and Japan's Nippon Soda Company respectively 118 million euros and 9 million euros for participating in a price-fixing cartel in the market for methionine, a chemical used in animal feed.
The EU's antitrust watchdog said the cartel operated for nearly 13 years until 1999.
Degussa then contested the penalty before the European Court of First Instance, the EU's second highest court which partly reduced the amount of Degussa's fine in its 2006 judgment.
However, Degussa, now known as Evonik Degussa, filed an appeal against the judgment in an attempt to have whole fine dropped.
The Luxembourg-based European Court of Justice, the EU's highest court, now confirmed the original fine imposed by the commission and dismissed the appeal in its entirety.
Source:Xinhua
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