German firm H&R Wasag confirms it is target of EU cartel probe
(BERLIN) - The German firm H&R Wasag, a subsidiary of the H&R group, confirmed Tuesday it was the subject of a European Commission probe into a possible cartel among producers of paraffin.
The French oil group Total and Repsol of Spain have also been identified as targets of the investigation, which was launched last year and is looking into alleged price collusion in the market for paraffins, a product used by the chemical industry.
H&R Wasag has been targeted by the probe since April 2007, a spokesman said, but believes it is a "victim and not an actor" in the affair.
The company has informed the public several times regarding the situation, the spokesman added.
The German company has also furnished documents to the Commission that would show it was not involved in any price fixing, the spokesman said.
H&R Wasag employs around 1,200 workers and forecasts annual sales of around one billion euros (1.57 billion dollars).
Less than 10 percent of its turnover comes from paraffin, with the rest provided by chemical products used by the cosmetics and pharmaceutical sectors.
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