BASF wins lawsuit against Lyondell Chemical Co. for overpricing

16-Aug-07
German chemicals company BASF AG has won a lawsuit against its U.S.-based supplier Lyondell Chemical Co. for overpricing of propylene oxide. In 1998, BASF and Lyondell signed a contract under which Lyondell would deliver propylene oxide to BASF for 13 years for no more than the lowest price. BASF could prove that Lyondell sold the compound at a much lower price to other customers. Lyondell will have to pay US$170 mln in damage claims for excessive pricing of propylene oxide over a period of 8 years.
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