Clariant to Defend New $1.2 Billion Claims Tied to EU Cartel

Clariant AG said it’ll defend nearly €1 billion ($1.2 billion) worth of claims linked to a multibillion-euro wave of litigation stemming from a European Union ethylene cartel case.

The Swiss chemical company said Hungary’s MOL Group and Brazilian petrochemical producer Braskem SA have filed claims in a Munich court seeking about €548 million and €402 million respectively. Clariant said it will firmly contest the allegations.