European Union regulators plan to fine Bayer and Chemtura this week
for fixing prices of rubber chemicals, according to four people
with firsthand knowledge of the investigation.
Laptop Battery The regulators' decision, which follows investigations in the
United States and Europe, will be announced on Wednesday, according
to an EU document obtained by Bloomberg News. The EU investigation
was prompted by information from Flexsys, a joint venture between
Solutia of the United States and Akzo Nobel of the Netherlands,
said the people, who asked not to be identified.
According to the indictment, Jones would steal various IBM and Penguin computer servers from Verisign's warehouse in Virginia and sell them to Johnson. Johnson would then sell the servers to several individuals, who would sometimes place them for sale on eBay. As a result of this scheme, the indictment alleges that Jones and Johnson caused Verisign to lose more than $120, 000 worth of computer equipment. In the indictment, Jones and Johnson are charged in three counts with causing the interstate transportation of stolen property, namely IBM 330 and 335 servers, in violation of 18 U.S.C.
Thinkpad Bayer set aside $50 million in provisions in 2003 for risks
related to the EU investigation. The company last
year agreed with U.S.
authorities to pay $4.7 million for antitrust violations related
to rubber chemicals, which are used to make plastic furniture,
hoses, tires, belts and footwear.
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Microsoft "The question is how big the fine is," said Peter Braendle, a
fund manager at Swissca Portfolio Management in Zurich. "You'd hope
that the provisions were taken at a sufficient level."
laptop computers is driving strong sales for notebook computers, according to the latest quarterly sales figures from the research firm IDC, which reported a 37% computer sales for the second quarter, compared with a year earlier. In the U.S., laptop sales grew 17.7%, while sales of desktop computers and servers fell 4%. The New York Times ( 10), CNET ( 10)
Laptop Computers The European Commission, the EU's antitrust enforcer in
Brussels, can fine
companies accused of violating
competition rules as much as 10 percent of their annual sales.
It typically opts for 2 percent to 3 percent of sales. The
largest EU cartel fine was E462 million, or $555 million, levied
against Roche Holding in 2001 for its role in fixing the price
of vitamins. A spokesman for the
commission, Jonathan Todd, declined to comment.
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Laptop Computer In August, two former Bayer executives were indicted on charges
that they had participated in a global conspiracy to fix the price
of rubber chemicals. About $1 billion of rubber chemicals is sold
in the United States each year to improve the durability and
elasticity of rubber products, the U.S. Justice Department said in
August. Bayer, the No. 2 chemical maker in Germany, after BASF,
agreed to pay a $66 million fine in July 2004 for its role in the
conspiracy. Two former Bayer executives have pleaded guilty to
price-fixing.
"Computer industry analysts estimate that some 60 percent of all corporate data exists only on desktop and laptop computers, " said Walter Scott, CEO of Acronis. "Incorporating Acronis True Image with New Mexico Software backup server is the ideal solution to capture that corporate data and ensure that it is not lost. While traditional server backups are effective for protecting server data, every company should have a combination of server and workstation backup plans."
Desktop Computer In the U.S. investigation, Chemtura, formerly known as Crompton,
and two of its former executives pleaded guilty last year to
participating in the conspiracy to fix prices on rubber chemicals.
Chemtura, a maker of rubber and plastic additives based in
Middlebury, Connecticut, paid a $50 million fine. It had previously
said it was cooperating with the EU investigation.
Notebooks Bayer said its headquarters in Leverkusen, Germany, was raided
by commission officials in September 2002. Flexsys also said at the
time that it had been raided. Ralf Hermann, a Bayer spokesman, said
the company had no comment.
Lenovo Solutia, a bankrupt maker of nylon carpet fibers and plastics,
said in a November filing with the U.S. Securities and Exchange
Commission that it was being investigated for "past commercial
practices in the rubber chemicals industry" by antitrust
authorities in the United States, Europe and Canada.
Hard Drive The company "has been fully cooperating with the authorities and
will continue to do so in the ongoing investigation," it said.
Flexsys will be granted full immunity from the EU charges because
it tipped off EU investigators, the people with knowledge of the
matter said. Chemtura and Bayer will also be granted leniency,
which will lead to reductions in the fine, because they cooperated,
the people said.
Travelstar The regulator may also fine Repsol YPF, a Madrid-based oil
company, the people with knowledge of the matter said. The EU will
not charge two Slovakian companies, Duslo and Istrochem, because it
lacks evidence, these people said. Representatives of Duslo,
Istrochem and Repsol were not available for comment.
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