Latest news with #competitionlaw
Yahoo
7 days ago
- Business
- Yahoo
Clariant rejects LyondellBasell's allegations against four companies related to the 2020 competition law infringement
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR Muttenz, 18 July 2025 Clariant, a sustainability-focused specialty chemical company, today announced that on 16 July 2025, the company received a claim for damages against four companies, including Clariant, from LyondellBasell with the court of Amsterdam, The Netherlands. The claim alleges damages totaling to around EUR 1.6 billion in relation to infringement of competition law on the ethylene purchasing market which was sanctioned by the European Commission in July 2020. Clariant firmly rejects the allegation and will adamantly defend its position in the proceedings. Clariant has substantiated economic evidence that the conduct of the parties did not produce any effect on the market. CORPORATE MEDIA RELATIONS Jochen DubielPhone +41 61 469 63 63 Ellese CaruanaPhone +41 61 469 63 63 Luca LavinaPhone +41 61 469 63 63 Follow us on X, Facebook, LinkedIn, Instagram. INVESTOR RELATIONS Andreas SchwarzwälderPhone +41 61 469 63 73 Thijs BouwensPhone +41 61 469 63 73 This media release contains certain statements that are neither reported financial results nor other historical information. This document also includes forward-looking statements. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Clariant's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors such as: the timing and strength of new product offerings; pricing strategies of competitors; the company's ability to continue to receive adequate products from its vendors on acceptable terms, or at all, and to continue to obtain sufficient financing to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Clariant does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these materials. Clariant is a focused specialty chemical company led by the overarching purpose of 'Greater chemistry – between people and planet.' By connecting customer focus, innovation, and people, the company creates solutions to foster sustainability in different industries. On 31 December 2024, Clariant totaled a staff number of 10 465 and recorded sales of CHF 4.152 billion in the fiscal year. Since January 2023, the Group conducts its business through the three Business Units Care Chemicals, Catalysts, and Adsorbents & Additives. Clariant is based in Switzerland. Attachment Clariant Ad hoc Release_Rejection of LyondellBasell Damage Claim 20250718 ENSign in to access your portfolio
The Independent
15-07-2025
- Business
- The Independent
Housebuilders' £100m offer after probe ‘definitely looks dodgy', Parliament told
An agreement by seven housebuilders to pay a record £100 million to help fund affordable new homes after an investigation into concerns they shared commercially sensitive information 'definitely looks dodgy', Parliament has been told. Critics at Westminster suggested the developers made the offer to halt the investigation by the Competition and Markets Authority (CMA) 'into potentially illegal collusion … that could have inflated house prices'. They argued the Government should insist on the watchdog completing its probe. Assurances were also sought that the housebuilders at the centre of the inquiry would not be involved in building the affordable homes funded by the payout, which would see the firms 'simply get their money back'. The CMA announced last week that Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry had offered the payment as part of a package of commitments to address concerns following the investigation, which was launched last year. The settlement, which is set to go into affordable housing programmes across the UK, would be the largest ever secured by the CMA through commitments from firms under investigation. The CMA will now consult on the commitments until July 24 and, if accepted, it will mean the regulator does not need to rule on whether the companies broke competition law. As well as the payment, the housebuilders have agreed legally binding commitments not to share commercially sensitive information with rivals, such as the prices that houses were sold for, except in 'limited circumstances', the CMA said. They also agreed to work with the Home Builders Federation and Homes for Scotland to develop industry-wide guidance on information sharing. The firms have said the offer of voluntary commitments does not mean they admit any wrongdoing. Speaking in the House of Lords, housing minister Baroness Taylor of Stevenage said: 'The £100 million additional funding proposed for affordable housing will mean more families can benefit from a safe and secure home.' But Liberal Democrat Baroness Thornhill, a vice president of the Local Government Association, said: 'There could be an alternative version to this – major housebuilders pay £100 million to halt the CMA's investigation into potential illegal collusion through the sharing of competitively sensitive information that could have inflated house prices. 'While this settlement might appear a pragmatic, cost-effective solution, would it not be more useful to have some evidence-led answers about whether the business models of the major developers are a significant factor in the slow delivery of housing? 'Therefore, should not the Government insist that the CMA actually completes its investigation, rather than allowing a financial settlement that obscures the fact and definitely looks dodgy?' Responding, Lady Taylor said: 'The CMA is continuing its work on this, and on July 9 it announced that it is consulting on its intention to accept commitments offered by the housebuilders in relation to the investigation. 'That consultation closes on July 25, and I have already set out some of the commitments that the seven companies have made. 'The £100 million payment, the largest secured through commitments from companies under investigation, will be split between affordable housing programmes across all our four nations. 'I hope that will make a significant contribution to delivering the affordable housing we all want to see.' Tory former housing minister Lord Young of Cookham said: 'If the Competition and Markets Authority confirms this £100 million payment for anti-competitive activity, can the minister give an assurance that none of the affordable homes to be built with that money will be built by the volume housebuilders responsible for this activity? Otherwise, they'll simply get their money back.' Lady Taylor said: 'I am sure that the Competition and Markets Authority, as part of its consultation, will be looking at the best way of distributing that money, so it is not just recycled to the people who caused the problem in the first place.' Liberal Democrat Lord Rennard said: 'The one-off payment of £100 million towards affordable housing is only about 3% of the operating profit of the five biggest housebuilders this year. Is this a relatively small penalty for them to pay for anti-competitive practices over many years?' Lady Taylor said: 'This is the biggest settlement ever achieved by the CMA.' She added: 'We have to consider what is appropriate in these circumstances. I am sure the CMA has done that.' A CMA spokesperson said: 'Our year-long study of the housing market found that the complex and unpredictable planning system, together with the limitations of speculative private development, was responsible for the persistent under-delivery of new homes in the UK. 'It was also clear that concerns about sharing of confidential information, while important, were not the main driver of the undersupply of housing. 'The £100 million payment we have secured for affordable housing would provide immediate benefits across the UK, without a lengthy further investigation. 'It is in line with fines levied in similar cases that have taken many years to conclude and comes alongside a set of commitments which fully addresses our competition concerns.' Bellway, which has agreed to pay £13.5 million, said: 'Bellway's offer of commitments does not constitute an admission of any wrongdoing, and the CMA has made no determination as to the existence of any infringement of competition law. 'Bellway welcomes the CMA's consultation on the voluntary commitments and will continue to work constructively with the CMA throughout the process.'
Times
12-07-2025
- Automotive
- Times
Motor industry faces scrutiny over ‘anti-competitive practices'
Joey Donnelly, manager at Crofton Motors, a crash repair specialist in Kimmage in Dublin, believes independent garage owners have a communication problem. Motorists can choose who repairs their cars, what price they pay for their annual service and, to a certain extent, what parts they put in their cars, he said. 'Consumers always have a choice and a warranty has to be honoured as long as certain criteria are met,' said Donnelly, whose independent family-run business has been in operation for more than 60 years. 'Crofton Motors can buy pretty much every part of any car and fix them.' The Competition and Consumer Protection Commission (CCPC) and Donnelly seem be on the same page. In a rare move last week, the authority made public an eight-page letter it had sent to the motoring industry warning companies that they had to comply with competition law. After investigating and contacting three unnamed car companies about alleged abuses of competition law, the commission decided to look across its helpline and complaints mailbox to see if the activity was widespread. It found more than two dozen complaints going back over two years. The complaints included motorists being warned by authorised dealers and repairers that their vehicle warranty would be rendered void if they had their cars repaired at independent garages, or if they used non-original or non-manufacturer supplied spare parts. In other cases, independent garages said they were unable to access diagnostic tools or onboard diagnostic data for certain cars, meaning they could not repair those cars. Tara Kelly, head of competition, anti-trust and foreign investment at Mason Hayes & Curran, a law firm, reckons the commission's letter is 'very significant'. 'It is a very clear signal from the CCPC that it has serious concerns about the effectiveness of competition in the motor vehicle aftermarket,' she said. 'Having said that, as with most things context is key and it cannot be automatically assumed that any restriction on an independent garage or operator gives rise to competition concerns. There may very well be very legitimate reasons why a distributor may refuse access to vehicle data or refuse a motor warranty claim.' Early in her career, Kelly worked on various international cartel cases in the autoparts industry. The potential fines for those found in breach of competition law are headline-grabbing — businesses can face fines of up to €50 million or 20 per cent of their annual worldwide turnover. Yet the reaction from the motor industry was muted. The Society of the Irish Motor Industry (Simi), which represents repairers, authorised dealers and distributors, did not issue a response. It declined to talk to The Sunday Times for this article, due to what it said could be a conflict of interest. Many dealers shrugged their shoulders. One owner of a large Dublin dealership, who asked not to be named, said: 'It's not a dealership issue, it's a manufacturer issue. They set the warranties and we abide by whatever warranties they put in place.' He added that as long as cars were serviced by competent people and the parts were approved by manufacturers, the warranties remained intact. As confirmed by the CCPC, the main focus of the preliminary investigation is on the manufacturers and main distributors of cars in Ireland that have set up authorised networks for dealerships. Under a European law known as the Motor Vehicle Block Exemption Regulation (MVBER), the industry is allowed to operate a franchised dealer network and control who sells its products. The regulation effectively provides a safe harbour for vertical agreements within the motor industry. But the regulation expressly protects consumer rights on service and repairs. In some cases manufacturers own the main distributors. For example, the automaker Kia owns Kia Ireland. The Kuwaiti-based Al Babtain family own the Irish operations of Nissan and Renault, as well as the retail group Windsor Motors. There is no suggestion that any of these companies were the subject of the CCPC's letter, nor that they are under investigation or in any way under suspicion. Nissan Ireland did not return a request for comment. A spokesman for Kia Ireland said: 'Our seven-year warranty does not mandate works to be completed in a Kia dealership. Instead, work needs to be completed by qualified technicians using parts of a similar standard. All terms are available in our vehicle warranty books.' A number of other car distributors did not return requests for comment. Volkswagen Group Ireland, owned by the German manufacturer, said it 'respects its obligations under European and Irish legislation'. There is no suggestion that the VW division was the subject of the CCPC's letter or that it is under investigation or in any way under suspicion. The commission's letter has put a spotlight on the motoring industry, which employs nearly 50,000 people across Ireland and continues to evolve with the growth in electric cars and safety features on cars. The aftermarket in the EU is worth €240 billion annually, on spare parts and labour alone. In Ireland last year new car registrations topped 121,000, with the exchequer pulling in €949 million in new vehicle registration taxes. The average price paid by consumers for petrol or diesel vehicles was €35,000, while an average price of €49,000 was paid for electric vehicles. Separately, while revenues may be high in the trade, margins are tight. Joe Duffy Motors, the country's biggest car retailer, for example, had a turnover of nearly €584 million in 2023, translating to a profit before tax of €38 million. That is a decent return, based on economies of scale, but most operators are much less profitable. Western Motors, which has locations in Galway and Louth, had revenues of just under €83 million in 2023 but a pre-tax profit of €2.4 million. Service income for many dealers can represent a small part of turnover, although it often accounts for a much larger chunk of profits. For example, of Bright Motor Group's €177 million-plus revenues in 2023, about €13 million came from parts and workshop sales. Industry sources say that the sale of new cars is the least profitable part of a car dealer's business and most rely on trade-ins, spare parts and servicing to make money, to help make a return on large investment in building high-spec showrooms. Dealers don't expect the CCPC investigation to be detrimental to their business. Paraic Mooney, managing director of EP Mooney's, a Dublin-based Hyundai dealer and garage, said: 'People in my position know their responsibilities and take them seriously and deal with them appropriately.' Sales at the company, an authorised Hyundai agent that employs 85 people, topped €82 million in 2023, with a profit of just over €728,000. Mooney is of the opinion that consumers themselves increasingly choose dealers to service and repair their cars. With the advent of electric cars and technology advances in safety systems across all engines, there is a rising complexity under the bonnet. 'It is in people's best interest, if they spend €50,000 on a car, to bring it to the manufacturer's agent. They are not dealing with a washing machine,' Mooney said. 'I started as Fred in the Shed in Crumlin. I've loads of respect for these guys but these days they often don't have the capacity or the investment in the equipment that we have to maintain cars. 'There's huge investment on behalf of people like [EP Mooney's] in technology to maintain cars and environmental control systems. A lot of people in [smaller garages] are quite capable of doing an oil change, filter change, but are not capable of updating software.' Perhaps unsurprisingly, independent garage owners disagree with Mooney's comments. One independent garage owner in Cork, who asked not to be named, said: 'My team is fully trained.' He has access to diagnostic tools sourced from Snap-on, an S&P 500 tools supplier, and Autel, a Chinese tech intelligence company. The garage owner paid €7,000 for one tool and must pay €1,500 for software updates annually. He estimates he can diagnose 95 per cent of issues. He argued that independent garages were mostly run by very qualified professionals who got their start in dealerships. He gave the example of a price of €350 that his company recently charged for one service compared with €700 that a nearby dealer had quoted the client. The garage owner said he saw anti-competitive practices in the industry 'all the time', with the increase in the sale of electric cars exacerbating the problem. 'We give out leaflets to our customers explaining how the block exemption works,' he said. 'Many say they have been told by the salespeople of their cars that their warranty will be void if they don't service their cars with the dealer.' Mooney said he had no fear that he would lose business as a result of the CCPC's letter. The company's aftersales division was incredibly busy, he added. The motor industry more generally has been reporting a chronic shortage of experienced technicians for several years now. A large number of garages and dealers appear in the employment permit statistics on the Department of Enterprise, Trade and Employment website, which lists companies that have employed people from outside the European economic area. These include Joe Duffy Motors, Windsor Motors and Kearys of Cork. In its accounts, Fitzpatrick Garages, a dealer based in Kildare, Carlow and Offaly, which had revenues of €95 million in the year to the end of March 2024, said it had increased its workshop capacity by developing its apprenticeship programme and recruiting technicians from outside the EU. In 2023, Western Motors increased the capacity of its service facilities by 40 per cent to cater for growing demand. For now, the CCPC investigation may be no more than an administrative headache for all those who received the letter. They must submit documents, including copies of any agreements and warranties, by August 6. Sylvia Gotzen, chief executive of Figiefa, the international federation of automotive aftermarket distributors, said it appreciated 'the vigilance of the CCPC in reminding vehicle manufacturers and their authorised dealers and network of consumers' right to choose who provides repair and maintenance services for their vehicles'. 'We would like to emphasise that the MVBER underpins the independent operator's right to compete, but it is only effective if properly enforced,' Gotzen added. The MVBER regulations are under review, as current legislation is due to expire in 2028. The solicitor Tara Kelly said that 'if the CCPC concerns are legitimate, the investigation is good news in the sense that it should translate into more choice for consumers and a broader customer base for independent dealers'. At the commission's urging, independent garages have been getting in touch over the past week to report what they see as negative experiences of unfair restrictions. Some have come with receipts. The investigation has no set timeline, according to Craig Whelan, head of antitrust at the CCPC. The next steps will depend on what information it receives from the industry, as well as the public. If the evidence shows a consistent trend of anti-competitive behaviour from a specific company, the commission will prioritise that business for follow-up action. Whelan said he was expecting a good level of co-operation from the industry. 'We are encouraging people to come forward with detailed information. The sooner we get the information, the sooner we can progress to the next stage of our investigations,' he said. Joe Duffy MotorsGavin Hydes, a Scot, runs the biggest car retailer in Ireland. Nivag, the holding company, has a stake in Vertu Motors, a quoted UK car dealer. Turnover in 2023: €583.6 million Profit before tax: €38 million Employees: 602 Nissan Ireland (owner of Windsor Motors)The Kuwaiti-based Al Babtain family own Nissan Ireland, which includes Windsor Motors. In 2023, they took over the Irish operations for Renault and in 2023: €471 million Loss before tax: €4.6 millionEmployees: 445 MSL Motor GroupAlongside Motor Distributors, MSL is owned by the O'Flaherty family. It sells Mercedes, Mazda, Skoda, BYD, Smart and Xpeng cars. Turnover in 2023: €415 million Profit before tax: €24.9 million Employees: 340 Kearys Motor GroupOwned by Brendan, Sinead and Sarah Keary, Kearys has operations in Cork, Dublin and in 2023: €320 millionProfit before tax: €6.3 millionEmployees: 381 OHM Group (Owner of Spirit Motor Group)Based in Dublin and Wicklow, the company is owned by Gabriel Hogan and the families of the late Declan McCourt and Conal O'Brien. Turnover in 2023: €301.4 millionProfit before tax: €7.1 million Employees: 272 Bright Motor GroupSet up in 1982, Bright is owned by Matthew Smyth, Ciaran O'Riordan and Henry Flanagan. It bought the retail arm of Gowan Group in in 2023: €177.5 millionProfit before tax: €3.6 millionEmployees: 184 Johnson & PerrottIn operation since 1810, the Cork-based company is now majority-owned by the Whitaker family. Turnover in 2023: €170 millionProfit before tax: €9.9 millionEmployees: 216 JA Boland & SonsOwned by the Boland family, it operates locations in Dublin, Wexford and in 2023: €166 millionProfit before tax: €4.7 millionEmployees: 198 Auto BolandOwned by another set of Bolands, the Waterford-based Auto Boland is a dealer for Volvo, Honda and Land Rover among other brands. Turnover in 2023: €148 millionProfit before tax: €6 millionEmployees: 178
Telegraph
09-07-2025
- Business
- Telegraph
Britain's biggest housebuilders pay £100m over collusion claims
Seven of Britain's biggest housebuilders have offered to pay £100m towards affordable homes to avoid a decision by a watchdog on whether they breached competition laws. The developers have offered to pay the Competition and Markets Authority (CMA) after it discovered evidence last year suggesting that 'commercially sensitive' information was being shared between the competitors. That information included pricing, property viewings and incentives offered to house buyers, such as kitchen upgrades and stamp duty contributions. If the CMA accepts the payment, it will drop its investigation without reaching a decision on whether there was any wrongdoing. The £100m would be channelled into funding pots for affordable homes in England, Scotland, Wales and Northern Ireland, and is the biggest payment that has been offered to the CMA to date. The builders – Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry – have also agreed to legally binding commitments to work with the Home Builders Federation and Homes for Scotland to develop industry guidance on information sharing. Under the package, Barratt Redrow has agreed to pay £29m, while Taylor Wimpey would pay £15.8m and Persimmon £15.2m. Bellway has offered to contribute £13.5m, and Vistry would pay £12.8m. The CMA has begun a consultation on whether to accept the payment, a process ending on July 24. Anti-competitive behaviour crackdown Speaking on BBC Radio 4's Today programme, Sarah Cardell, chief executive of the CMA, said the payment would 'go to the people who need it the most'. 'We don't have to reach a conclusion in this case that there has been an infringement,' she said. When asked whether people had overpaid for a house because of housebuilders sharing data, Ms Cardell said that was the reason the CMA had secured the payment. She said: 'It will bring hundreds more affordable homes to the UK market immediately, which is a much better resolution than a long and complex investigation. 'We are committed to tackling anti-competitive behaviour and that is exactly what we are doing today because we have moved swiftly and effectively to resolve this case with absolute clarity. 'The housebuilders are in no doubt about what they need to do to comply with the law. 'People can be confident now when they go out and look at new houses today; tomorrow, they can be confident that there is no anti-competitive behaviour and we will see hundreds more affordable homes come to market.' The housebuilders offering the settlement said in individual statements that the settlement offer did not amount to an admission of wrongdoing and said they would continue to work with the CMA. Jennie Daly, chief executive of Taylor Wimpey, said the closure of the CMA's investigation 'will allow us to focus our efforts on delivering much-needed homes across the country '.
Daily Mail
09-07-2025
- Business
- Daily Mail
Housebuilders pledge £100m for affordable homes but deny keeping prices high after competition probe
Seven housing developers have pledged a total of £100million for affordable housing programmes after an investigation into anticompetitive behaviour in the sector. Britain's competition watchdog launched a probe early last year amid concerns the country's top homebuilders were sharing commercially sensitive information, thereby potentially keeping prices artificially high. The Competition and Markets Authority on Wednesday said Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry have agreed to a package of commitments to address its 'concerns'. However, the seven firms do not admit any 'liability or wrongdoing' for any of the conduct. If the package is formally accepted, the CMA will also drop its investigation into whether the housebuilders broke competition law. The CMA launched an investigation last year following concerns the builders exchanged competitively sensitive details about sales including pricing, property viewing numbers and incentives offered to buyers. The government will allocate the payment to affordable homes programmes across all four nations, including giving funding directly to devolved governments, the CMA said. Some funding, for example, will be given to the Affordable Homes Programme in England which is administered by Homes England. Registered bodies, such as housing associations, charities and local authorities, will be able to bid for funds from the programmes to support the capital costs of building affordable homes for rent or sale, the CMA added. As well as the £100million payment to be split between affordable housing programmes, the housebuilders have agreed to refrain from sharing information except in limited circumstances. The CMA said it will now consult on the proposals. Vistry, Barratt Redrow, Persimmon, Taylor Wimpey and Bellway said in separate statements they had engaged proactively with the CMA, and their payment offers did not constitute admissions of wrongdoing. In its statement, Barratt Redrow, said: 'Barratt Redrow has engaged proactively and constructively with the CMA throughout its investigation, including by voluntarily offering binding commitments alongside the other Parties in response to the potential concerns investigated by the CMA, and with a view to resolving expeditiously the investigation. 'The offer of voluntary commitments does not constitute an admission of any wrongdoing by Barratt Redrow and nothing in the commitments may be construed as implying that Barratt Redrow agrees with any concerns expressed by the CMA in the investigation.' Taylor Wimpey said: 'Taylor Wimpey welcomes the CMA's intention to conclude its investigation by accepting voluntary commitments. We will continue to work constructively with the CMA as they conclude the process.' This is Money contacted Berkeley Group and Bloor Homes for comment. Sarah Cardell, chief executive at the CMA, said: 'Housing is a critical sector for the UK economy and housing costs are a substantial part of people's monthly spend, so it's essential that competition works well. 'This keeps prices as low as possible and increases choice. 'As a result of the CMA's investigation, housebuilders are taking clear and comprehensive steps to ensure they comply with the law and don't share competitively sensitive information with their rivals. 'Alongside these measures, the housebuilders we investigated have agreed to pay £100million towards affordable homes programmes, which will help communities up and down the country.' The CMA will now consult on the proposed commitments before deciding whether to accept them. The consultation closes at 5pm on 24 July 2025. The CMA probe, which looked into the anti-competitive practices of seven housing developers, was initially launched following a market study on housebuilding. The watchdog has previously accepted commitments from pharmaceutical companies Vifor Pharma and Aspen, although this payment would be the largest secured to date. If accepted, the commitments will become legally binding and mean that it is not necessary for the CMA to decide whether the housebuilders breached competition law.
