The US justice department has revealed that Japan’s Ueno Fine Chemicals Industry is to plead guilty to conspiring to fix prices in the food preservatives industry between 1979 and 1996. Three executives from Ueno and one from Daicel Chemical Industries are accused of a move that affected nearly US$1bn in US commerce. Ueno is to be fined US$11m for its part in the 17-year price fixing scam.
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