Bayer Corporation pleaded guilty to anti-competitive behaviour in the US

Bayer Corporation is to plead guilty and pay a $33m (E27m) fine after reaching an agreement with the US Department of Justice over anti-competitive activity in adipic-based polyester polyols.

The allegations that the company conspired with unnamed others to suppress and eliminate competition in the US market cover the period from February 1998 through December 2002.

The company, a US subsidiary of the Bayer Group, has cooperated with the Department during the investigation. If approved by the court, the agreement will resolve all criminal charges against Bayer in its adipic based polyester polyols business.

The product is a distinct type of polyol raw material supplied to customers making polyurethanes for use in automotive coatings, shoe soles and adhesives and also to prevent plastics bags sticking together.