Crompton Granted Conditional Amnesty in Nitrile Rubber Investigation.Business Editors/Legal Writers MIDDLEBURY, Conn.--(BUSINESS WIRE)--Dec. 19, 2003 Crompton Corporation Crompton Corporation, formerly Crompton and Knowles, is a chemical research, production, sales and distribution company headquartered in Middlebury, Connecticut. The company produces specialty chemicals used for polymers, fire suppressants and retardants, pool and spa water (NYSE NYSE See: New York Stock Exchange :CK) today announced that it is cooperating with competition authorities in the U.S., Canada and the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community that are investigating possible anticompetitive an·ti·com·pet·i·tive adj. That discourages competition among businesses: anticompetitive foreign trade restrictions. activities by manufacturers of nitrile rubber. Crompton Corporation and its relevant affiliates have received assurances of conditional amnesty from each of these authorities with regard to criminal prosecution and fines with respect to nitrile rubber. Amnesty is conditioned upon several factors, including the company's continued cooperation with the authorities. Crompton acquired its nitrile rubber business in 1996 when the company completed a merger with Uniroyal Chemical Corporation. In 1998, Crompton put its nitrile rubber business into a joint venture and subsequently sold its interest in the joint venture in December 2001. The joint venture had 2001 sales of approximately $30 million. Crompton Corporation, with annual sales from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of approximately $2.2 billion, is a producer and marketer of specialty chemicals and polymer products providing the solutions, service and value its customers need to succeed. Additional information is available at www.cromptoncorp.com. |
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