Judgment of the General Court (Seventh Chamber) of 2 February 2012 --
   Dow Chemical v Commission
   (Case T-77/08)

   Competition -- Agreements, decisions and concerted practices -- Market
   for chloroprene rubber -- Decision finding an infringement of
   Article 81 EC and Article 53 of the EEA Agreement -- Price-fixing --
   Market-sharing -- Imputability of the unlawful conduct -- Joint
   venture -- Guidelines on the method of setting fines -- Mitigating
   circumstances -- Cooperation

   1.                     Competition -- European Union rules --
   Infringements -- Attribution -- Parent company and subsidiaries --
   Economic unit -- Criteria for assessment (Art. 81 EC; Council
   Regulation No 1/2003, Art. 23(2)) (see paras 73-77)

   2.                     Competition -- Administrative procedure --
   Statement of objections -- Necessary content -- Observance of the
   rights of the defence -- Clear indication of the parties liable to be
   fined and the capacity in which they are to be penalised (Council
   Regulation No 1/2003, Art. 27(1)) (see para. 110)

   3.                     Competition -- Fines -- Amount --
   Determination -- Judicial review -- Assessment of the duration of the
   infringement by progressive six-month thresholds -- Period longer than
   that of the actual participation in the infringement -- Lawfulness --
   Conditions (Council Regulation No 1/2003, Art. 23(2); Commission Notice
   2006/C 210/02) (see paras 92-145)

   4.                     Competition -- Fines -- Amount --
   Determination -- Criteria -- Reduction of the amount of the fine for
   cooperation of the undertaking concerned -- Conditions -- Discretion of
   the Commission (Commission Notice 2002/C 45/03) (see paras 157-164,
   167)

   Re:

   APPLICATION for, principally, annulment of Commission Decision
   C(2007) 5910 final of 5 December 2007 relating to a proceeding under
   Article 81 [EC] and Article 53 of the EEA Agreement (Case COMP/38629 --
   Chloroprene Rubber), as amended by Commission Decision C(2008) 2974
   final of 23 June 2008, in so far as it concerns the applicant and, in
   the alternative, a reduction in the amount of the fine imposed on the
   applicant by that decision.

   Operative part

   The Court:

   1.

   Dismisses the action;

   2.

   Orders The Dow Chemical Company to pay the costs.