Companies accused of fixing price of synthetic used in shoe soles were fined a total of about US350 million by European Union (EU) regulators.

According to the EU, DuPont and three other chemical companies fixed the price of a type of rubber used to make shoe soles and other products between 1993 and 2002.

Eni SpA, Italy's largest oil company, faces the highest fine of more than US194m.

DuPont was fined nearly US72m dollars for the actions of a former joint venture with Dow Chemical. DuPont was separately fined an additional US15.6m.

Japan's Denka Seiken and Tosoh Corp. were fined 69.3m and 7m respectively.

Bayer AG, Germany's largest drugmaker, was given full immunity because it told the European Commission about the cartel.