(Reuters) -Switzerland's Clariant said on Tuesday it has received a 1-billion-euro ($1-billion) damages claim by Austrian energy company OMV alleging infringement of competition law on the ethylene
Clariant rejects $1 billion OMV claim alleging competition law infringement
(Reuters) -Clariant is one of four companies to receive a damages claim of around 1 billion euros ($1.14 billion) from Austrian energy company OMV for alleged competition law infringement on the ethylene purchasing market, it said on Tuesday.
"Clariant firmly rejects the allegation and will adamantly defend its position in the proceedings," the Swiss chemicals company said.
OMV confirmed it had filed a claim against Clariant to Reuters but said it could not comment on ongoing legal proceedings.
Clariant did not name the other companies in its statement. OMV did not identify them either.
Clariant said it has "substantiated economic evidence that the conduct of the parties did not produce any effect on the market".
Earlier this year, Clariant received similar claims from BASF and TotalEnergies, which it also rejected.
In 2020, the European Commission fined Clariant, Mexico's Orbia and U.S. group Celanese a total of 260 million euros for colluding to keep the price of ethylene purchases low.
($1 = 0.8808 euros)
(Reporting by Paolo Laudani; Additional reporting by Bernadette Hogg; Editing by Rachel More and Rachna Uppal)
