EU Fines Bayer, Zeon €34.2M Total For Price-Fixing

Law360, New York (January 23, 2008, 12:00 AM EST) -- German pharmaceutical and chemical company Bayer AG and Japan's Zeon Corp. have been hit with fines totaling €34.2 million ($49.7 million) by the European Commission for scheming to fix the price of synthetic rubber.

EU antitrust regulators said that Bayer and Zeon conspired to raise or otherwise stabilize the prices of nitrile butadiene rubber between late 2000 and 2002. Nitrile butadiene rubber, or NBR, is a type of synthetic rubber typically used in auto manufacturing for fuel- and oil-handling hoses, seals and O-rings.

The two companies...
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