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

Celanese buys conductive polymer supplier

October 21, 2014 4:31 pm ET

Materials firm Celanese Corp. has acquired most of the assets of conductive polymers maker Cool Polymers Inc. for an undisclosed price.    More

Image

BASF targets coffee and automotive connoisseurs with new resin grades

October 21, 2014 2:07 pm ET

BASF SE is using polybutylene terephthalate (PBT), which is normally used to manufacture high-end electronics, in a food consumer packaging product.    More

Image

Report: Suspected former Nazi with plastic connection collecting Social Security

October 20, 2014 3:52 pm ET

AKRON, OHIO — A one-time plastics executive in Akron is among dozens of suspected former Nazis who have been collecting U.S. Social Security...    More

Materials firm realigns business divisions

October 20, 2014 1:23 pm ET

Trinseo S.A., formerly known as Styron L.L.C., is realigning its business divisions, creating two new business groups — Performance Materials...    More

Image

Corbion Purac collaboration taking bioplastics into even more uses

October 17, 2014 6:00 am ET

Corbion Purac NV's collaboration with Taiwan-headquartered compounder Supla Co. Ltd. and Taiwan electronics producer Kuender & Co. is paying dividends...    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