European Union regulators fined three chemical companies $91.2 million for running a cartel to swap information and control the price of rubber chemicals used to make car tires.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 regulators fined three chemical companies $91.2 million for running a cartel to swap information and control the price of rubber chemicals used to make car tires. Bayer AG Bayer AG German chemical and pharmaceutical company. Founded in 1863 by Friedrich Bayer (1825–1880), it now operates plants in more than 30 countries. Bayer has originated scores of pharmaceuticals, chemicals, and synthetic materials; it was the first developer and was fined $70.7 million, Crompton Europe Ltd. was ordered to pay $16.3 million and Repsol SA's subsidiary, General Quimiea SA, was fined $4.1 million. Flexsys NV escaped a fine because it blew the whistle A simple whistle is a woodwind instrument which produces sound from a stream of forced air. Many types exist, from small police and sports whistles (also called pea whistles), to much larger train whistles, which are steam whistles specifically designed for use on on the cartel in April 2002. |
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