BRUSSELS, Jul. 22, 2009 (Xinhua News Agency) -- The European Commission on Wednesday said it has fined nine chemical companies for fixing prices.

The European Union (EU)'s antitrust watchdog said in a statement that the total fines amounted to more than 61 million euros (87 million U.S. dollars) and targeted nine chemical companies, including Almamet, Donau Chemie and Ecka Granulate.

Akzo Nobel of the Netherlands also participated in in the illegal cartel but was not fined because it revealed the existence of the arrangements to the commission.

Investigations showed that between 2004 and 2007 the companies fixed prices and shared markets for calcium carbide powder, calcium carbide granulates and magnesium granulates in the EU.

The combined markets of calcium carbide powder, calcium carbide granulates and magnesium granulates in the EU are estimated to be worth some 175 million euros (248 million U.S. dollars), according to the commission.