By David Reed contributing editor
Leverkusen, Germany-Bayer AG, the holding company of Bayer MaterialScience group, has agreed to pay $18 million to settle a law suit which claimed it had been involved in a price-fixing scheme in respect of polyester polyols.
The settlement, in the US district court in Kansas City, Kansas, comes just weeks after Bayer agreed a $55.3-million settlement in August in the same court, for allegedly conspiring to inflate the prices of polyether polyols.
Two years ago, US federal authorities consolidated 16 cases which had been filed across the country, against several manufacturers of the materials. Court documents allege that Bayer, along with Dow Chemical Co., BASF Corp., Huntsman Polyurethanes and Lyondell Chemical Co. control all the markets and 75 percent of the manufacturing of polyether polyols.
The cases were brought by customers who complained that the companies had fixed the price of polyurethane and urethane chemicals."