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Haili paint accuses the five international pigment giants of price manipulation

Haili paint accuses the five international pigment giants of price manipulation

March 2, 2010

[China paint information] in the federal antitrust class action in Baltimore, USA, the American paint retailer haleypaintco. accused the five internationally renowned titanium dioxide (TiO2) pigment manufacturers of conspiring to manipulate prices

the companies accused include DuPont, Huntsman, kronoswordwidwideinc., headquartered in the United States Millenniuminorganicchemicals and Saudi Arabia based state redefined the company cristal

although Merrill Lynch inorganic chemicals is now a wholly-owned subsidiary of costar, they were still two independent companies when the charge was first brought to court

as the lawsuit has not been finalized, all titanium dioxide pigment manufacturers involved in the accusation unanimously refused to make any comment on this matter

the lawsuit began in 2001, when the titanium dioxide pigment market was depressed and the product price fell sharply

in January 2002, the Titanium Dioxide Manufacturers Association held a meeting in Finland. In March, 2002, Haili paint accused five defendants of simultaneously raising the prices of titanium dioxide products of all grades all over the world after the meeting. Therefore, it can be concluded that they must have reached some kind of agreement or understanding secretly at the meeting. The plaintiff claimed that the understanding or agreement resulted in many other price increases and relatively stable customer positions and market shares

in addition to price manipulation, Haili paint claimed that the defendant "faced with the business of some customers of other defendants, by refusing to shut down the experimental machine or equipment, suddenly and automatically stop bidding or deliberately bid too high" to block the channels for new suppliers to enter the market, share customer sources and share market share

Haili paint also claimed that during 2007 and 2008, these companies turned a blind eye to the declining demand for pigments in the U.S. paint and construction industry, and still wantonly increased the price of titanium dioxide and intensified the increase of energy surcharges

the class action accused the defendant of violating the anti-monopoly law and committing the crime of concealment and fraud, requiring the defendant to pay three times the compensation for the plaintiff Gao company in exploring new technology paths, including solid-state batteries. The litigation representatives of Haley coatings are Shapiro sherguinot Sandler from Baltimore and goldbennettcera Sidener from San Francisco

goldbennettcera Sidener is currently participating in other antitrust class actions involving synthetic rubber, wrapped tanker freight, etc

Haili paint lubrication reducing material company is the largest independent paint distributor in Philadelphia, and its production facilities are located in kenshohocken, Pennsylvania, USA

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