Dow Chemical found guilty of urethane foam price-fixing

URETHANES TECHNOLOGY INTERNATIONAL

Published: February 21, 2013 1:48 pm ET
Updated: February 21, 2013 1:51 pm ET

Related to this story

Topics Materials, Materials Suppliers, Legal
Companies & Associations Dow Chemical Co.

KANSAS CITY, KAN. -- Dow Chemical Co. has been ordered to pay $400 million after being found guilty of fixing the price of chemicals used to make urethane foams, according to Reuters.

Dow was one of several defendants named in a class-action lawsuit alleging conspiracy to fix chemical prices between 1999 and 2003, at a time when there was excess demand in the industry.

While the other defendants chose to settle, though did not admit any wrongdoing, Dow went to trial in Kansas City in January. The plaintiffs had sought damages for a five-year conspiracy but Dow was not found liable for the full amount of time, Reuters reported a lawyer for the company as saying.

If the $400 million verdict is sustained by the judge overseeing the case, it could be tripled under federal anti-trust law. The company will seek to dismiss the lawsuit in a post-trial motion, Reuters reported.


Comments

Dow Chemical found guilty of urethane foam price-fixing

URETHANES TECHNOLOGY INTERNATIONAL

Published: February 21, 2013 1:48 pm ET
Updated: February 21, 2013 1:51 pm ET

Post Your Comments


Back to story


More stories

Image

Experts explain why resin sales are down in a healthy US economy

February 27, 2015 1:58 pm ET

The economies of the U.S. and Canada posted solid growth in 2014 — even though resin demand in those countries lagged behind.    More

Image

Industry vet Dwight Morgan joins M. Holland

February 27, 2015 1:55 pm ET

Resin distribution leader M. Holland Co. has hired industry veteran Dwight Morgan as its vice president of corporate development.    More

Image

Indian masterbatch makers growing locally and thinking globally

February 27, 2015 1:30 pm ET

GANDHINAGAR, INDIA — India’s masterbatch makers are expanding their domestic capacity to meet growing demand, as some are also moving...    More

Image

Polypropylene prices rise, while PE and PS fall

February 26, 2015 4:01 pm ET

North American prices for polyethylene and polystyrene resins continued to fall in February, while regional prices for polypropylene showed a...    More

Image

Price and sustainability both key to success for carpet recycler

February 26, 2015 1:28 pm ET

DALLAS — A green message will get you in the door, but ultimately that sustainability message has to be backed up with quality at the right pric...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events