The European Commission has begun investigating fragrance ingredient manufacturers for possible anticompetitive practices that could hurt buyers of their products. The EC, along with authorities in Switzerland and the UK, carried out raids on March 7 to collect evidence at the premises of some of Europe’s biggest fragrance ingredient firms. The US Department of Justice’s Antitrust Division is also involved in the probe.In addition to the raids, the EC says it has sent formal requests for information to several companies in the sector. International Flavors & Fragrances, Firmenich, Givaudan, and Symrise have confirmed to C&EN that they are part of the investigation, and all say they are cooperating fully with authorities.The Swiss competition commission says it “has indications that several undertakings active in the production of fragrances have violated cartel law.” It adds that “there are suspicions that these undertakings have coordinated their pricing policy, prohibited their competitors from supplying certain customers and limited the production of certain fragrances.” Swiss authorities say they will examine whether competition in the fragrance sector has been restricted in ways prohibited by cartel law.
I gotta say, I genuinely do not understand how a group of firms could get together like this without one of them defecting, either to the market or to the authorities, but I suspect that the history of guilds would prove me quite incorrect. This will be interesting to follow...
(also, how could the Unilevers of the world not notice this?)
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looks like Blogger doesn't work with anonymous comments from Chrome browsers at the moment - works in Microsoft Edge, or from Chrome with a Blogger account - sorry! CJ 3/21/20