Volume 86 Issue 4 | p. 37 | Concentrates
Issue Date: January 28, 2008

EC again fines rubber producers

Department: Business

The European Commission has imposed fines totaling $50 million on Bayer and Zeon Chemicals for fixing prices on nitrile butadiene rubber, used mainly in auto manufacturing. Both firms won reductions for cooperating in the investigation, but Bayer first had its fine raised because it had been caught fixing prices before. "This is the fourth cartel decision in the synthetic rubber industry in just over three years," EC Competition Commissioner Neelie Kroes says. "I hope that this is the last." Earlier fines targeted makers of rubber chemicals, butadiene rubber, and chloroprene rubber.

 
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