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OTTAWA (Marketwire) -- The
Competition Bureau announced today that Solvay Chemicals Inc. has been fined
$2.5 million by the Federal Court after the company pleaded guilty to criminal
charges for fixing the price of hydrogen peroxide sold in Canada.
The Bureau"s investigation revealed that Solvay Chemicals Inc. conspired with
competitors to fix the price of hydrogen peroxide in Canada between July 1998
and December 1999. Solvay"s total sales of hydrogen peroxide in Canada during
this time period were approximately $15 million. Hydrogen peroxide is a chemical
oxidant and bleaching agent used mostly in the pulp and paper industry. It is
also used in the environmental, chemical, textile and food processing
industries.
"Price-fixing is a crime that deprives consumers and businesses of lower
prices and product choice,"said Melanie Aitken, Commissioner of Competition.
"Eliminating illegal cartels continues to be a top priority for the Bureau."
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