Chinese vitamin C maker in antitrust complaints
named in three separate antitrust complaints filed in the US,
according to its chairman Cai Dong Chen.
Chen said the complaints relate to certain manufacturers of vitamin C in China conspiring to control prices and volumes of exports of the vitamin to the US and elsewhere in the world since December 2001.
"It is alleged in the antitrust complaints that the purchasers of vitamin C in the US paid more for vitamin C than they would have paid in the absence of the alleged conspiracy and, therefore, suffered losses," Chen told AFX Europe.
Cai said the complaints have not been served on the company or on any of its subsidiaries but in the event of this happening it intends to contest vigorously the complaints.
The report cites the chairman as calling the allegations "without merit, frivolous and vexatious".
Chinese manufacturers are thought to control around two thirds of the world's supply of vitamin C, playing a major role in fluctuating prices.
Overcapacity from this region in recent years has however led to falling prices and consolidation, placing pressure not only on European vitamin makers but also Chinese players.
