Zeon Chemicals sets aside $16 million to settle NBR suits

Pittsburgh, Philadelphia –Zeon Chemicals Inc. has set aside $16 million to settle civil lawsuits arising from its admitted price-fixing of acrylonitrile butadiene rubber from May 2002 through December 2002.

The proposed settlement, filed with the US District Court for Western Pennsylvania, requires Zeon Chemicals to cooperate in prosecuting claims against other companies charged with participating in the price-fixing scheme.

Zeon agreed in January to plead guilty and pay a $10.5 million criminal fine for participating in a conspiracy to fix prices of nitrile rubber. The government said…

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