E.U. Fines Companies €519M For Rubber Cartel

Law360, New York (November 29, 2006, 12:00 AM EST) -- A testament to the success of its improved cartel enforcement laws, the European Union issued a €519 million fine on Wednesday against five companies for allegedly fixing the prices of synthetic rubbers.

Czech Republic-based Unipetrol AS received a fine of €17.6 million; Italy-based Eni SpA was fined €272.3 million; and Trade-Stomil of Poland will have to shell out €3.8 million for participating in the alleged price-fixing scheme.

U.S.-based Dow Chemical Co.’s original €108 million fine was reduced to €64.6 million because the company was the second...
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