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...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.