Zeon won't appeal $8.4 million fine in NBR price-fixing case
TOKYO-Zeon Corp. won't appeal an $8.4 million fine by the European Commission decision and its European subsidiaries in a nitrile rubber price-fixing case.
The company said it will commit to further strengthen its internal compliance system and take action to prevent a recurrence of such an incident. The fine was reduced to $2.1 million on Jan. 23 because Zeon cooperated in the investigation.
Foamex plans to make stock offering to raise $80 million
LINWOOD, Pa.-Foamex International Inc. said it hopes to raise $80 million in cash via a rights offering at $1.50 per share, plus a second lien offering.
Foamex, which supplies flexible foam to the U.S. bedding and furniture sectors as well as markets, said the action will significantly "deleverage" the company. The firm will negotiate with some of its large stockholders for commitments for the $80 million.