OREANDA-NEWS. July 11, 2011. The Federal Antimonopoly Service (FAS Russia) initiated a case against “Pervaya Chimicheskaya Kompania” CJSC, “Bekborn” Ltd., “Caustic” OJSC, “Vladimir Chemical Works” OJSC, “Plasticab” OJSC, “Sayanchimplast” OJSC, a group of persons comprising “Sibur” Ltd., “Sibur Holding” CJSC and “Sibur-Neftekhim” OJSC, upon the signs of concerted actions – fixing prices and dividing the market of soft cable compounds according to the volume of sales, reported the press-centre of FAS Russia.

FAS Russia suspects that the companies violated Clauses 1, 3 Part 1 Article 11 of the Federal Law “On Protection of Competition”.

“As a result of inspections, FAS Russia obtained materials indicating the signs of a cartel agreement between large chemical companies operating on the market of soft cable compounds”, said the Head of the FAS Russia’s Cartel Department, Alexander Kinev.

Reference:

Clause 1 Part 1 Article 11 of the Federal Law “On Protection of Competition” prohibits agreements between economic entities if such agreements can result in fixing or maintaining prices, discounts, surcharges.

Clause 3 Part 1 Article 11 of the Federal Law “On Protection of Competition” prohibits agreements between economic entities if such agreements can result in dividing the market according to the geographical principle, volume of sales or purchases.