Advertisement

Arco, Union Carbide to Pay Antitrust Penalty:...

From Times Staff and Wire Reports

Arco, Union Carbide to Pay Antitrust Penalty: Atlantic Richfield Co. and Union Carbide Corp. have agreed to pay $1 million in civil penalties for an antitrust violation in the $220-million sale of two product lines, the Justice Department said. The two firms, in a proposed consent decree, did not contest or admit to allegations that they structured the sale of plastics production assets to evade requirements that antitrust regulators be told in advance of the deal. The Federal Trade Commission challenged the sale by Union Carbide Chemicals & Plastics Inc. to Arco Chemical Co., but later approved a revised version.


Advertisement