Last checked at 4 Jul 2011 09:33
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Elementis plc (the "Company") announces today that the European Commission repealed its decision against the Company and certain of its affiliates ("Elementis") of 11 November 2009, which had imposed fines totalling Euro 23.4 million on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The Commission repealed that decision after Elementis lodged an appeal with the General Court of the European Union and after that Court affirmed in another case the legal principles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 TaylorsonFinance Director
020 7408 9302