Issue Date: March 20, 2006
Solvay, Akzo plead guilty
Solvay and Akzo Nobel have agreed to plead guilty and to pay fines for participating in an international conspiracy to fix the price of hydrogen peroxide between July 1998 and December 2001. According to the U.S. Department of Justice, Akzo has agreed to pay a $32 million fine. Solvay will pay a $41 million fine, which includes an admission that the company fixed the price of sodium perborate it sold to Procter & Gamble between June 2000 and December 2001. A year ago, the European Commission brought charges against 18 chemical firms, including Akzo, Solvay, Degussa, Kemira, and Arkema, for conspiring to fix prices of hydrogen peroxide and derivatives.
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