Saint Gobain says cooperating in EU probe into construction chemicals cartel, ET RealEstate

October 18, 2023

BRUSSELS: French construction company Saint-Gobain on Wednesday said that it was cooperating with EU antitrust regulators which had launched dawn raids a day earlier into several companies which may have taken part in a construction chemicals cartel.

The European Commission said its dawn raids were carried out in coordination with the UK Competition and Markets Authority and the Turkish Competition Authority while it was also in contact with the U.S. Department of Justice.

“We can confirm that Saint-Gobain is aware of competition law investigations and cooperating with these investigations,” the company said in an email, declining to provide further detail.

Swiss construction chemicals maker Sika confirmed dawn raids on Tuesday.

Companies face fines of as much as 10% of their global turnover for breaching EU antitrust rules.

  • Published On Oct 18, 2023 at 06:30 PM IST

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