EU Issues Formal Warnings to Nine Construction Chemicals Firms Over Alleged Price-Fixing Cartel

According to the European Commission, nine construction chemicals companies from France, Germany, and Spain received formal objections on suspicion of price-fixing cartel activity. The companies, including Sika, Cemex, Chryso, Mapei, Master Builders Solutions, MC Bauchemie, TAM, Liesen, and Remel, are alleged to have coordinated pricing in the building chemicals sector. Industry associations in the three countries are also under investigation. Following the announcement, Swiss-listed Sika's stock price declined 3.1%.
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