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Elementis PLC (ELM)

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Monday 04 July, 2011

Elementis PLC

European Commission Repeal of Decision

RNS Number : 6867J
Elementis PLC
04 July 2011
 



 

4 July 2011

 

Announcement of European Commission Repeal of Decision

 

Elementis plc (the "Company") announces today that the European Commission repealed its decision against the Company and certain of its affiliates ("Elementis") of   11 November 2009, which had imposed fines totalling Euro 23.4 million on Elementis based on a finding that Elementis had participated in two cartels during the 1980s and 1990s. 

 

The Commission repealed that decision after Elementis lodged an appeal with the General Court of the European Union and after that Court affirmed in another case the legal principles invoked by Elementis. The repeal of the decision confirms the Elementis position that the Commission's decision against Elementis had no legal basis.

 

As a result of the repeal of the decision of 11 November 2009, the European Commission will now repay to Elementis the full amount of Euro 23.4 million plus interest.


It is Elementis policy to conduct its business in full compliance with all applicable laws including competition laws.

 

Enquiries:

Elementis plc            
Brian Taylorson
Finance Director

020 7408 9302

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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