Eastman Chemical pleads guilty to price fixing
Article Abstract:
Eastman Chemical Co. acknowledged conspiring to dominate world market competition for a class of food preservatives called sorbates including potassium sorbate and sorbic acid in violation of federal antitrust laws. Eastman agreed to paying a $11 million fine as well as provide information on alleged coconspirators, according to the US Justice Department (DOJ) in Washington DC. The information will be used to widen DOJ's probe into anticompetitive practices in the $200-million a year sorbates industry worldwide. In October 1998, another price fixing conviction was meted by the DOJ on three former Archer Daniels Midland Co. executives for the chemical lysine.
Comment:
Acknowledges violationg of federal antitrust laws by conspiring to dominate world market competition for sorbates
Publication Name: Chemical Engineering
Subject: Engineering and manufacturing industries
ISSN: 0009-2460
Year: 1998
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Monsanto and AHP call off merger
Article Abstract:
Monsanto Corp. of St. Louis, MO, and American Home Products (AHP) of Madison NJ, have abandoned their proposed merger deal on Oct. 13, 1998. The deal was discontinued upon agreement by the boards of both firms who said that it would not be in the interest of their shareholders. Differing management styles and widely reported power struggles between both chairmen John Stafford of AHP and Robert Shapiro of Monsanto were attributed to the aborted merger. In January 1998, another merger had also failed to materialize between AHP and SmithKline Beecham plc.
Comment:
Abandons its proposed merger w/ Monsanto Corp on 10/13/98
Publication Name: Chemical Engineering
Subject: Engineering and manufacturing industries
ISSN: 0009-2460
Year: 1998
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Breaking the paper paradigm
Article Abstract:
Chemical process industry (CPI) companies are in agreement regarding the considerable efforts and prohibitive costs required to comply with state and federal environmental regulations. New technologies for electronic information management promise to dramatically reduce the time needed to prepare complex compliance documentation for these laws. Electronic reporting delivers at least four major advantages to CPI firms, including improved timeliness, enhanced data accesibility, reduced costs and improved data accuracy.
Publication Name: Chemical Engineering
Subject: Engineering and manufacturing industries
ISSN: 0009-2460
Year: 1999
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