Article contentSheldon Hirt, Orbia’s General Counsel, stated, “We have always maintained that the purchasers’ actions had no effect on the prices these companies were charging during a period in which they enjoyed rising profit margins, and that there was no actual harm suffered by Shell and other ethylene sellers. Far from being harmed, we believe the claimants benefited from oligopoly pricing, earning excess returns on ethylene sales due to their market power. The ethylene sellers claiming billions in damages have numerous ways to take advantage of their deep knowledge of and insights into the overall market and production cycles. Most of the sellers are, in fact, simultaneously significant purchasers of ethylene. This ruling is a victory not only for smaller purchasers like Vestolit, but also for consumers and the EU’s chemical industry.”