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Business
Plastic Additives Companies Fined
by Marc S. Reisch
November 16, 2009
| A version of this story appeared in
Volume 87, Issue 46
The European Commission has imposed $260 million in fines against 10 chemical firms for fixing prices of tin and ester heat stabilizers between 1987 and 2000. Both additives are used in polyvinyl chloride. Ciba, recently acquired by BASF, garnered the largest fine, $103 million. AkzoNobel was fined $61 million, the second largest. Others hit with fines include Arkema, $43 million; Reagens, $16 million; Chemson Group, $5.3 million; and Baerlocher, $1.5 million. Chemtura was excused from paying any fines because it reported the cartels to the commission in 2002, soon after it was stung by charges of fixing rubber chemical prices.
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