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January 23, 2008 01:00 AM

EC fines Bayer, Zeon for NBR price-fixing

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    BRUSSELS, Belgium (Jan. 23, 2008) — The European Commission has hit Bayer A.G. and Zeon Corp. with fines totaling $50.1 million for price-fixing of nitrile-butadiene rubber.

    Bayer´s fine of $42.2 million was reduced by 30 percent and Zeon´s $7.99 million fine was cut by 20 percent because they cooperated in the investigation, the commission said. However, Bayer´s fine also was increased by 50 percent because the German firm previously had been fined by the EC for price-fixing of rubber chemicals, butadiene and styrene-butadiene rubber, and chloroprene rubber.

    The commission said Bayer and Zeon between late 2000 and 2002 raised or stabilized prices through a series of meetings and other illicit contact.

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