European Union regulators slapped chemical giants DuPont, Dow Elastomers LLC, Dow Chemical, Bayer AG, Tosoh Corp. and others with a ¤243 million (US$358 million) fine on Wednesday for running a cartel to fix prices for chloroprene rubber, used to make everything from shoe soles to condoms. EU Competition Commissioner Neelie Kroes said it was «particularly disappointing» that the rubber industry «has still not learned its lessons about avoiding cartels.» The EU said the price fixing took place between 1993 and 2002, and six companies from the U.S., Germany, Italy and Japan colluded to agree each others market shares and set prices, according to a report of the Associated Press.
