A PYMNTS Company

EU: Commission raids companies in styrene monomer purchasing

 |  June 10, 2018

The European Commission said it has raided companies in the styrene monomer purchasing sector, suspecting them of having violated the bloc’s cartel rules, reported Reuters.

The Commission has concerns that the inspected companies may have violated EU antitrust rules that prohibit cartels and restrictive business practices (Article 101 of the Treaty on the Functioning of the European Union). The Commission officials were accompanied by their counterparts from the relevant national competition authorities.

Styrene monomer is a chemical product used as a base material for a number of chemical products such as plastics, resins, rubbers and latexes. These products are then used in a very wide range of applications (insulation, packaging, etc.).

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.