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, Legal, Materials Suppliers
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

A. Schulman reports growth in sales and profit

October 22, 2014 7:58 pm ET

Executives with materials maker A. Schulman Inc. have to be smiling after seeing full results for the firm's 2014 fiscal year.    More

Image

PolyOne takes on LED lighting

October 22, 2014 4:23 pm ET

PolyOne Corp. is making inroads into LED lighting applications with its Therma-Tech-brand material technology.    More

Image

Bergen International adds manufacturing space, extrusion line

October 22, 2014 3:42 pm ET

Chemical foaming agent manufacturer Bergen International LLC recently doubled its manufacturing capacity, added an extrusion line and laboratory...    More

Image

DuPont materials taking more ground in auto, medical, electronics

October 22, 2014 2:41 pm ET

Materials made by DuPont Co. are making inroads with products ranging from auto coolant pipes to circuit breakers to surgical devices.    More

Image

Materials companies introduce a range of new products at Fakuma

October 22, 2014 11:29 am ET

DuPont Co. led a parade of materials firms with new products at Fakuma 2014.    More

Market Reports

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 million dollar 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

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

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

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

More Events