Abstract
The European Commission has fined the chemical companies Sunpor, Synbra, Synthomer, Synthos, and Trinseo a total of $162 million for participating in a cartel to depress the price of styrene, a raw material they buy, on the European market. Ineos also participated in the cartel but avoided a fine by blowing the whistle on the illegal activity. The commission began its investigation in September 2017. It found that the companies had been operating as a cartel between May 1, 2012, and June 30, 2018. “The six buyers of styrene exchanged sensitive commercial information and coordinated their negotiation strategy,” the commission states in a press release. Such practices are banned in the European Union because they distort the competitive process. Styrene is an intermediate for plastics, rubber, and other products. The fines were $17.7 million for Synbra, $32.7 million for Sunpor, $33.5 million for Synthos, $33.7 million for Trinseo, and $44.4
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