EC FINES EUROPEAN WAX MAKERS.

The article reports that the European Commission has imposed fines amounting to $980 million on paraffin wax producers which took part in a price-fixing cartel between 1992 and 2005. The fines hit nine companies, including ENI, ExxonMobil, Hansen & Rosenthal, Tudapetrol, MOL, Repsol, Sasol, RWE and Total. Among them, Sasol was greatly affected since it led the cartel. Meanwhile, Shell, who also participated in price fixing, was not fined for revealing the cartel's existence to the commission.