The Crittenden Automotive Library

Topics: Exxon, Shell

Announced Actions for November 4, 1998

Agency: Federal Trade Commission
Date: 4 November 1998
[Non-automotive content removed.]

Consent agreements given final approval: Following a public comment period, the Commission has made final a consent agreement with the following entity. The Commission action makes the consent order binding on the respondent.

A consent order with Royal Dutch Shell and Exxon has been made final. The order will settle the FTC's charges that their proposed joint venture to develop, manufacture, and sell viscosity index improver -- an essential motor oil additive -- would reduce competition and violate federal antitrust laws. Under the terms of the order, Exxon will sell its viscosity index improver business to Chevron Chemical Company LLC or another Commission-approved buyer. The Commission vote to made the order final was 4-0. (See news release dated August 20, 1998; FTC File No. 971 0007; Staff contact is Philip M. Eisenstat, 202-326-2769.)

Copies of the documents referenced above are available from the FTC's web site at http://www.ftc.gov and also from the FTC's Consumer Response Center, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-326-3128; TTY for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.

Media Contact:

Office of Public Affairs
202-326-2180