Solvay, Akzo Nobel Fined $72M For Chemical Cartels

Law360, New York (March 14, 2006, 12:00 AM EST) -- Two European chemical companies are slated to collectively shell out more than $72 million in criminal fines after pleading guilty to allegations that the companies participated in international price-fixing cartels in the hydrogen peroxide and sodium perborates industries, according to the Department of Justice.

Solvay S.A., a Belgian chemical and pharmaceutical company, and the Netherlands-based Akzo Nobel Chemicals International B.V. have been under scrutiny in the DOJ’s ongoing antitrust investigations into the hydrogen peroxide and sodium perborates markets.

Solvay stated in a press release today that...
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