Clariant: share down as it rejects Shell's allegations
(CercleFinance.com) - On Thursday, Clariant denied the allegations made by Shell, which yesterday filed a claim for damages against the Swiss chemicals group in an Amsterdam court.
Clariant says that the claim, which involves three other companies, seeks damages of up to E1bn for an infringement in the ethylene market.
This case was the subject of a European Commission decision in 2020, and Clariant was one of the four companies sanctioned at the time.
Clariant categorically rejects Shell's accusations and asserts that it intends to defend itself vigorously in the proceedings.
It also asserts that it has evidence that the practices of which it has been accused by Brussels had no impact on the ethylene market.
Despite these statements, the company's shares fell by almost 4% in Zurich on Thursday.
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Clariant says that the claim, which involves three other companies, seeks damages of up to E1bn for an infringement in the ethylene market.
This case was the subject of a European Commission decision in 2020, and Clariant was one of the four companies sanctioned at the time.
Clariant categorically rejects Shell's accusations and asserts that it intends to defend itself vigorously in the proceedings.
It also asserts that it has evidence that the practices of which it has been accused by Brussels had no impact on the ethylene market.
Despite these statements, the company's shares fell by almost 4% in Zurich on Thursday.
Copyright (c) 2023 CercleFinance.com. All rights reserved.