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Article: EC fines 5 suppliers $628 million for SR price fixing; Yet more rubber manufacturing companies found guilty of collaborating on prices.(Suppliers)
- Article from:
- European Rubber Journal
- Article date:
- January 1, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: David Shaw
The European Commission has fined five petrochemical companies a total of [euro]519 million for their involvement in a synthetic rubber price-fixing scheme between 1996 and 2002.
Italy's Eni SpA received the biggest fine, [euro]272.25 million, followed by Royal Dutch Shell PLC, [euro]160.9 million; Dow Chemical Co., [euro]64.6 million; the Czech Republic's Unipetrol AS [euro]17.55 million; and Poland's Trade-Stomil Sp z.o.o, [euro]3.8 million. The polymers in question were butadiene rubber (BR) and styrene-butadiene rubber (SBR).
Germany's Bayer AG, the world's largest SR producer during the time of the ...