6 Apr 2006
Pittsburgh, Pennsylvania - Bayer AG and its subsidiaries Bayer Corp. and Bayer MaterialScience LLC have proposed a $9.8 million settlement for pending litigation alleging price-fixing conspiracy in acrylonitrile-butadiene rubber.
A hearing on the proposed settlement has been set for 1st June before the US District Court for the Western District of Pennsylvania. Bayer pleaded guilty in October 2004 to one court of conspiracy and was fined $4.7 million.
Several other corporate defendants in the price fixing case -- Crompton Corp., DESC S.A. de C.V., ParaTec Elastomers L.L.C. and Zeon Chemicals Inc. -- have already settled in the litigation to the combined tune of $24.5 million.
From Rubber & Plastics News (A Crain publication)
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