Dec 19, 2003 Crompton
Crompton Granted Conditional
Amnesty in Nitrile Rubber Investigation
Crompton Corporation (NYSE:CK) today announced that it is
cooperating with competition authorities in the U.S., Canada and
the European Union that are investigating possible
anticompetitive activities by manufacturers of nitrile rubber.
Crompton Corporation and its relevant affiliates have received
assurances of conditional amnesty from each of these authorities
with regard to criminal prosecution and fines with respect to
nitrile rubber. Amnesty is conditioned upon several factors,
including the company's continued cooperation with the
Crompton acquired its nitrile rubber business in 1996 when the company completed a merger with Uniroyal Chemical Corporation. In 1998, Crompton put its nitrile rubber business into a joint venture and subsequently sold its interest in the joint venture in December 2001. The joint venture had 2001 sales of approximately $30 million.
Crompton Corporation, with annual sales from continuing operations of approximately $2.2 billion, is a producer and marketer of specialty chemicals and polymer products providing the solutions, service and value its customers need to succeed. Additional information is available at www.cromptoncorp.com.
Crompton acquired its nitrile rubber business in 1996 with its merger with Uniroyal Chemical Corp, and would later form a joint venture for the business with Desc SA before selling its stake in 2001.
November 13, 1998 TRISTATE BUSINESS SUMMARY
Ohio plant will close; work moves to Mexico
Crompton & Knowles Corp. said it will shut its Painesville, Ohio, rubber chemicals plant and cut 125 jobs by mid-1999 as it moves production from the plant into a joint venture with Mexico's Desc SA de CV.
Crompton & Knowles, a specialty chemicals maker with annual sales of $1.85 billion, said it would take a fourth-quarter pretax charge of about $30 million for the job cuts at its Uniroyal Chemical Co. unit. Production will move to a plant being built in Altamira, Mexico.