Dow appeals polyurethane cartel fine and verdict

URETHANES TECHNOLOGY INTERNATIONAL

Published: March 7, 2013 12:19 pm ET
Updated: March 8, 2013 10:37 am ET

Related to this story

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

KANSAS CITY, KAN. — Dow Chemical Co. has clarified the basis of its disagreement with the verdict passed by U.S. District Court in Kansas City over a fine of $400 million for its role in fixing prices in polyurethane precursors.

In a filing on March 5, Dow asked the trial judge to rule on the jury verdict reached two weeks ago.

The filing says: “We strongly believe the jury rejected the sole conspiracy that the plaintiffs put before the jury, and we therefore have asked the Court to enter a verdict in Dow’s favor as a matter of law or, alternatively, order a new trial. Dow also has filed a supplement to its earlier motion to decertify the class, since the jury, by its verdict, rejected the class-wide claim. Dow has always denied plaintiffs’ allegations of price fixing.”

It continues: “This same matter was thoroughly investigated by the U.S. Department of Justice from 2005 through 2007. Dow fully cooperated with the DOJ, and the DOJ closed the investigation in December 2007 without bringing charges against any person or entity. Consistent with the outcome in this earlier DOJ investigation, Dow should not be held liable in the civil case and will pursue this matter to a successful conclusion.”


Comments

Dow appeals polyurethane cartel fine and verdict

URETHANES TECHNOLOGY INTERNATIONAL

Published: March 7, 2013 12:19 pm ET
Updated: March 8, 2013 10:37 am ET

Post Your Comments


Back to story


More stories

Image

Asahi Kasei breaks ground on Alabama compounding plant

September 29, 2014 5:39 pm ET

Asahi Kasei Plastics North America will be able to solve two problems at once with a new compounding plant in Athens, Ala.    More

Image

DuPont shifting Teflon production in China

September 29, 2014 2:35 pm ET

DuPont Co. will spend more than $15 million to improve its fluoropolymer product offerings in China.    More

Image

Sale of PVC maker Oltchim still in limbo

September 29, 2014 10:25 am ET

Fresh attempts to privatize insolvent Romanian PVC producer Oltchim SA have met with new obstacles as the European Union questioned the Romanian...    More

Image

LyondellBasell considering another ethylene expansion

September 25, 2014 1:30 pm ET

Materials giant LyondellBasell Industries — with three ethylene expansions already on the board — is contemplating a fourth.    More

Image

PE, PVC prices rise, PS on the decline

September 24, 2014 4:16 pm ET

North American commodity resin prices bounced around in September, with regional polyethylene and PVC prices increasing while prices for solid polysty...    More

Market Reports

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 industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

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