EU Court Reduces Hoechst Fine To 74 Million Euros

     LUXEMBOURG (CN) – Hoechst GmbH, a company that participated in a cartel in the food-preservatives market from 1978 to 1996, had its fine of 110 million euros reduced to 74.25 million euros by Europe’s second-highest court.

     The Court of First Instance said the European Commission unfairly increased the fine after labeling Hoechst the leader of the sorbates cartel without giving the company a chance to defend itself.

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