Belgium Fines Solutia, Others In Chemical Cartel

Law360, New York (April 4, 2008, 12:00 AM EDT) -- Four companies, including Bayer AG and Solutia Europe, have admitted to participating in a cartel that fixed prices for a chemical used in glue and other products, and three have been fined by the Belgian Competition Council under its new leniency ordinances.

The case was the first decided by the council in which it took leniency applications into account. Germany-based Bayer was the first to file for leniency and denounce the cartel. As a result, the council granted Bayer total immunity.

The other cartel participants —...
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