Bayer, Crompton and Flexsys investigated for price fixing. (Corporate, Financial News).
Bayer AG of Germany, Flexsys NV of Belgium and Crompton of Greenwich, CT, are under investigation for possible price fixing Price Fixing Establishing the price of a product or service, rather than allowing it to be determined naturally through free market forces. This procedure is often an illegal practice.
Notes: Different retailers have been accused of this for a long time! See also: Antitrust, Monopoly of rubber chemicals in the United States and Europe. The chemicals are used primarily to process rubber in tires. Major customers include Goodyear, Michelin and Bridgestone. European Commission antitrust regulators carried out surprise inspections at several locations in September and said their investigation into possible price fixing is in a preliminary phase. The purpose of these inspections is to ascertain whether there is evidence of a cartel agreement and related illegal practices concerning price fixing for rubber chemicals, the commission said in a statement. The three companies said they are cooperating with the investigation. All the companies have operations in the Akron, OH, area.
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