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Dow Chemical ordered to pay $1.2 billion in urethane price-fixing probe
A federal judge in Kansas City, Kansas,
ordered Dow Chemical Co. to pay $1.2 billion in a price-fixing case involving chemicals used to make foam products in cars, furniture and packaging, according to court documents.
Dow was one of several chemical company defendants named in a 2005 class action lawsuit alleging a conspiracy to fix urethane chemical prices, but it was the only defendant not to settle.
Urethane, in combination with other chemicals, is used to produce materials for automotive trim, seating, carpet, bed liners, filters, door seals and other components.
Urethane is also a base material for paints.
The suit includes at least 16 automotive-related plaintiffs, including the Woodbridge Group, which operates an automotive unit based in Troy, Mich.
Read more: http://www.autonews.com/article/20130517/OEM10/305179929#ixzz2Tf4u0Oat
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