Chemical firm to plead guilty to price fixing
Article Abstract:
Eastman Chemical Co. has reached an agreement to pay a $11 million fine as part of a guilty plea to a price fixing charge. The company entered a guilty plea for engaging in a worldwide conspiracy to increase chemical-food perservative prices. Eastman has also agreed to provide information on other co-conspirators. The company is cooperating with the US government's investigation of anticompetiton strategies being implemented in the sorbates industry.
Comment:
Eastman Chemical Co. to pay $11 million fine as part of a guilty plea to a price fixing charge
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Olin announces plans to spin off chemicals lines
Article Abstract:
Olin Corp. announced that it is spinning off its specialty-chemicals business to stockholders. The company said that it would keep its Chlor Alkali, Brass and Winchester ammunition businesses. Of Olin's $2.5 billion in 1997 sales, approximately $950 million of it came from the speciality-chemicals business. Olin's chairman and CEO, Donald Griffin, asserted that the spin off will lead to increased value for stockholders.
Comment:
Announced that it is spinning off its specialty-chemicals business to stockholders
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
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