By Pierre Bertrand
Clariant said Wednesday that it rejected an allegation by TotalEnergies that it violated competition law on the ethylene purchasing market.
The Swiss specialty chemical company said it was one of four companies accused by TotalEnergies in a claim filed in an Amsterdam court Tuesday. According to Clariant, the claim alleges around 625 million euros ($657.2 million) in damages related to ethylene sales that the French oil and gas company said infringed on competition law.
"Clariant firmly rejects the allegation and will adamantly defend its position in the proceedings," the company said. The company said it had evidence that the parties' conduct didn't produce any effect on the market.
Neither Clariant, nor TotalEnergies were immediately available for comment.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
February 26, 2025 13:05 ET (18:05 GMT)
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