ParaTec, DESC set aside $3.5 million to settle price-fixing suits

Houston, Texas–Nitrile rubber suppliers ParaTec Elastomers L.L.C. and DESC S.A. de C.V. have agreed to set aside $3.5 million to settle lawsuits pending against them regarding price-fixing of the material.

Houston-based ParaTec is the nitrile rubber unit of Mexico’s DESC, which operates 25 000 tonnes of nitrile capacity at its chemical complex in Altimira, Mexico.

Set up as a joint venture in 1999 by DESC and Crompton Corp.’s Uniroyal Chemical unit, ParaTec has been wholly owned by DESC since December 2001 and is the sole owner of…

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