Food additive firms fined for price fixing
Article Abstract:
Jungbunzlauer International AG of Switzerland and Springfield, NJ-based Haarmann & Reimer Corp. (H&R), which is the US unit of Bayer AG of Germany, have agreed to pay a total of C$6.7 million in fines by the Federal Court of Canada for their involvement in a global conspiracy to fix prices and allocate market shares within the industry. Jungbunzlauer was fined C$2 million for its role in the manipulation of citric acid market and for the company's involvement in a similar scheme manipulate the marketing of sodium gluconate. On the other hand, H&R was fined C$4.7 million for the company's role in manipulating the sales of citric acid, which is utilized in drinks and food items, between 1991 and 1995.
Comment:
Is fined C$4.7 mil for its role in fixing the prices of citric acid
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Molecules made to march to a new beat
Article Abstract:
Emmite Drumsticks Inc has launched its glow-in-the-dark drumsticks. The drumsticks are made from polyethylene that has been forced through a heated die at high pressure. The process straightens billions of balled-up chains of polymers into strands, which makes the product stronger and stiffer than ordinary plastics. The company claims that the plastic drumsticks lasts three to five times longer than hickory drumsticks.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: U.S. fines drug companies $725M for price fixing. HMO reform owes life to doctors in the House. Drug bill passes, debate continues
- Abstracts: Updated iBook is bound to impress. Schwinn puts a spin on the 'Krate' bikes. Personal finance software gets even smarter
- Abstracts: Fidelity fires first salvo in likely mutual fund fee war. Imax says profit won?t affect 2003 target. Cranberry farmers not giving thanks
- Abstracts: A long punt on the unfavoured one. Temperature: Cold to moderates
- Abstracts: Exports, imports set records in May. IT firm's president rides the growth wave