Akzo and Solvay reach settlement with US Justice Department
Dutch pharmaceutical and chemicals groups Akzo Nobel and Solvay have taken a step forward in resolving US antitrust action involving price-fixing in the US hydrogen peroxide market by the former and in sodium perborate for the latter firm. Akzo has pleaded guilty to the US Department of Justice and agreed to pay a fine of $32.0 million and Solvay $41.0 million. The DoJ said price-fixing cartels have affected nearly $350.0 million in US commerce from 1998 to 2001.
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