EU probes construction chemical firms
The European Commission has announced the commencement of an investigation into several chemical construction companies in Germany, France, and Spain, as well as three national industry unions, regarding suspected collusion to increase prices for cement, concrete, and brick chemicals between 2021 and 2022. It is believed that these companies coordinated their justifications for raising prices, which were influenced by the rising cost of raw materials due to the COVID-19 pandemic and the Russian-Ukrainian war, leading to increased construction costs. If the allegations are proven true, the companies could face fines of up to 10% of their total global turnover.
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