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Business
EU Fines Calcium Carbide Makers
by Marc S. Reisch
July 27, 2009
| A version of this story appeared in
Volume 87, Issue 30
The European Commission has imposed fines totaling $87 million on makers of calcium carbide and magnesium for colluding to fix prices between 2004 and 2007. Calcium carbide and magnesium are used in steelmaking, and calcium carbide is also used to make acetylene gas for welding. Among the firms fined, AkzoNobel and Evonik Industries received higher penalties from the EC because they had been in previous cartels, but Akzo was excused from paying its $25 million fine because it was the first to report the cartel to authorities. Others fined include Donau Chemie, Ecka Granules, and Almamet.
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