Bayer reaches agreement with U.S. Department of Justice in acrylonitrile-butadiene rubber investigation

14-Oct-2004

Bayer AG confirmed that it has reached agreement with the U.S. Department of Justice to settle charges related to allegations that it engaged in anti-competitive activities from May 2002 through December 2002 involving acrylonitrile-butadiene rubber. Under the terms of the agreement, Bayer agreed to plead guilty and to pay a fine of $ 4.7 million. The company will set up a respective provision for the third quarter of 2004.

Bayer has cooperated with the Department during the investigation. The agreement, if approved by the court, resolves all criminal charges against Bayer in the U.S. for activities related to its acrylonitrile-butadiene rubber business.

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