Home / Knowledge / News / Textiles / Solvay to pay $2.5 mn for price-fixing conspiracy
Solvay to pay $2.5 mn for price-fixing conspiracy
14
May '10
The Competition Bureau announced that Solvay Chemicals Inc. has been fined $2.5 million by the Federal Court after the company pleaded guilty to criminal charges for fixing the price of hydrogen peroxide sold in Canada.

The Bureau's investigation revealed that Solvay Chemicals Inc. conspired with competitors to fix the price of hydrogen peroxide in Canada between July 1998 and December 1999. Solvay's total sales of hydrogen peroxide in Canada during this time period were approximately $15 million. Hydrogen peroxide is a chemical oxidant and bleaching agent used mostly in the pulp and paper industry. It is also used in the environmental, chemical, textile and food processing industries.

"Price-fixing is a crime that deprives consumers and businesses of lower prices and product choice,"said Melanie Aitken, Commissioner of Competition. "Eliminating illegal cartels continues to be a top priority for the Bureau."

Solvay Chemicals Inc. is the second party to plead guilty to fixing the price of hydrogen peroxide in Canada. Akzo Nobel Chemicals International BV pleaded guilty in November 2008 and was fined $3.15 million for its involvement in the conspiracy. The Bureau's investigation of other companies alleged to have participated in the conspiracy is ongoing.

Under the Competition Act, an agreement between competitors to fix prices, allocate markets or restrict output in Canada is a criminal offence. Following amendments to the Act that came into force in March 2010, penalties for violations of the conspiracy provisions include fines of up to $25 million and prison terms of up to fourteen years, or a combination of both. At the time the of the price-fixing conduct in question, penalties were capped at fines of up to $10 million and prison terms of up to five years, or a combination of both.

The Bureau's investigation benefited from cooperation under the Bureau's Immunity and Leniency Programs, which create incentives for parties to address their criminal liability by cooperating with the Bureau in its ongoing investigation and prosecution of other alleged cartel participants.

The Competition Bureau is an independent law enforcement agency that contributes to the prosperity of Canadians by protecting and promoting competitive markets and enabling informed consumer choice.

Competition Bureau

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search