Three Tire Companies File Suit Against Chemical Maker - Tire Review Magazine

Three Tire Companies File Suit Against Chemical Maker

(Akron/Tire Review) Bridgestone/Firestone North American Tire (BFNAT), Bandag Inc. and Pirelli Tire North America (PTNA) have filed a federal lawsuit in Nashville, Tenn., against Middlebury, Conn.-based chemical manufacturer Chemtura Corp.

The suit seeks refunds and triple damages from the chemical maker for goods purchased during a global price-fixing conspiracy involving Chemtura.

Chemtura, then known as Crompton Corp., and other international chemical makers pleaded guilty in 2004 to participating in an international conspiracy between 1995 and 2001. The company agreed to pay $56.8 million in fines to U.S. and Canadian authorities in March 2004.

"Defendants conspired in a global price-fixing scheme that had the direct and substantial effect of keeping prices paid by purchasers in the U.S. artificially high," according to the lawsuit.

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