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The Miami Herald: FIRMS FINED FOR PRICE-FIXING RUBBER: EU cartel case: Royal Dutch Shell fined $211 million

Thu, Nov. 30, 2006

FLORIDA BUSINESS BRIEFS
From Miami Herald Staff and Wire Services

The European Commission fined five oil refiners and chemical producers about $682 million, saying they fixed the price of synthetic rubber used to make tires. A sixth company that had alerted authorities escaped a fine.

It was the second-largest fine ever in an EU cartel case. Italy’s Eni was ordered to pay the largest fine — $357.6 million — while Royal Dutch Shell was fined $211 million. Their fines were hiked by half for it being a repeat offense.

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