02 February 2012 20:43 [Source: ICIS news]
HOUSTON (ICIS)--US-based Dow Chemcial and DuPont failed to convince an EU court on Thursday to overturn a price collusion ruling that imposed fines on the chloropene rubber sellers.
The European General Court upheld a 2007 European Commission against Dow and DuPont.
The European Commission had ruled the companies had fixed prices for chloroprene rubber, which is used in the manufacture of automobile parts and other materials.
The next steps for the two companies could involve different paths.
Dow said in a statement that it would "appeal this judgment to the Court of Justice as we continue to remain convinced of the correction of our position”.
The company would not elaborate as litigation is on-going.
DuPont may take a different course.
“DuPont is disappointed with the decision announced today by the General Court of the European Union. We will analyse the decision and decide at a later stage whether to appeal to the European Court of Justice,” said Eduardo Menchaca, director of public and government affairs for Europe, the Middle East and Africa.
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