EC fines 5 suppliers $628 million for SR price fixing

Brussels — The European Commission has fined five petrochemical companies €519 million for their involvement in a synthetic rubber price-fixing scheme from 1996-2002.

Italy´s Eni SpA received the biggest fine, €272.25 million, followed by Royal Dutch Shell PLC, €160.9 million; Dow Chemical Co., €64.6 million; the Czech Republic´s Unipetrol AS €17.55 million; and Poland´s Trade-Stomil Sp z.o.o, €3.8 million. The polymers in question were butadiene rubber (BR) and SBR.

Germany´s Bayer AG, the world’s largest SR product during the time of the investigation, blew the…

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