Kemira Pays €12.7 million to Settle Peroxide Case
Finnish chemicals company Kemira has agreed to pay €12.7 million in compensation and legal costs to CDC Hydrogen Peroxide to settle a lawsuit in Dortmund, Germany, that related to its part in a hydrogen peroxide cartel.
Jari Rosendal, Kemira’s president and CEO, said it was satisfied with the settlement as it removes the uncertainty related to the litigation case.
The European Commission ruled in May 2006 that several companies, including Kemira, AkzoNobel, Solvay, Total, Evonik, among others, had participated in a “single and continuous infringement regarding hydrogen peroxide, covering the whole European Economic Area between 1994 and 2000 at least”.
CDC launched damage actions in Germany in March 2009 and in Finland in April 2011. Kemira agreed to pay CDC €18.5 million in settlement of the Helsinki lawsuit in May 2014.
Kemira said it would continue to defend pending legal action filed by CDC in Amsterdam, the Netherlands, related to an alleged historical infringement of competition law in the sodium chlorate business. The suit is against the former Finnish Chemicals, which Kemira acquired in 2005.