BASF Accepts Canadian Competition Bureau Settlement

LUDWIGSHAFEN, Germany--BASF Aktiengesellschaft announced it had come to a settlement with the Canadian Competition Bureau regarding allegations that the company was involved in a recent vitamin price-fixing, along with several other companies.

BASF agreed to pay a fine of C$ 19 million, the equivalent of $12.9 million U.S. The company fully cooperated with the investigation, and said it regrets the current circumstances. The company has reaffirmed its commitment to strict compliance with the laws of the countries in which it does business. It has also installed a new senior management team and implemented new business policies, including surprise audits and new employee training programs.