People & Business :: Corporate Social Responsibility
Bayer Fined Again for Fixing Rubber Prices
12:06 PM MST | January 28, 2008 | Ian Young
The European Commission has fined Bayer and Zeon (Tokyo) a combined €34 million ($50 million) for conspiring to fix the price of nitrile butadiene rubber (NBR) between 2000 and 2002. Bayer was fined €28.87 million and Zeon €5.36 million. “Bayer and Zeon managed to raise or otherwise stabilize prices through a series of meetings and other illicit contacts,” the commission says. The commission started its investigation in March 2003. The fines on Bayer and Zeon were reduced 30% and 20%, respectively, because they cooperated with the...
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