Issue Date: October 13, 2008
EC Fines European Wax Makers
The European Commission has levied fines totaling roughly $980 million on paraffin wax producers that, according to the commission, took part in a price-fixing cartel between 1992 and 2005. Nine companies were hit: ENI, ExxonMobil, Hansen & Rosenthal, Tudapetrol, MOL, Repsol, Sasol, RWE, and Total. Shell also participated in price fixing but was not fined because it revealed the cartel's existence to the commission. Sasol was hardest hit, . . .
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