Brussels Fines Five Companies for Fixing Chloroprene Prices

Seeking petchem opportunities: Ambani (l.) and Gail chairman U.D. Choubey exchange the MoU. The European Commission has fined five companies a combined €243.2 million ($357 million) for conspiring to fix prices of chloroprene rubber “from at least 1993 to 2002.” The companies are Denka (Tokyo), DuPont, Dow Chemical, ENI (Rome), and Tosoh. Bayer was fined €201 million, but its penalty was rescinded because Bayer “was the first company to come forward with information about the cartel,” even though Bayer is a “repeat...

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