By Ian Walker
Clariant said it has been served with a damages claim by German chemical giant BASF over alleged infringements of competition law on the ethylene purchasing market sanctioned by the European Commission in July 2020.
The Swiss chemicals company said late Monday that the claim, seeking damages of 1.4 billion euros ($1.43 billion), was served against four companies, including Clariant.
It received the claim with the court of Munich, Germany, on Thursday.
"Clariant firmly rejects the allegation and will adamantly defend its position in the proceedings," the company said.
It added that the company has evidence that the conduct of the parties didn't produce any effect on the market.
BASF didn't immediately respond when approached for comment by Dow Jones Newswires.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
January 14, 2025 01:12 ET (06:12 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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