The European Commission on Monday accused several manufacturers of additives for cement and concrete -- including Mexican giant Cemex and a subsidiary of French group Saint-Gobain -- of colluding to charge customers higher prices for their products.
The chemical additives are commonly used in the construction sector to improve the properties of concrete, cement, and other mortars.
The EU Commission -- which carried out surprise inspections in the sector in 2023 -- accuses manufacturers and professional organisations in France, Germany, and Spain of forming a cartel to raise their prices in a coordinated manner in 2021 and 2022, in the wake of Russia's invasion of Ukraine.
If the suspicions are confirmed, Brussels could impose heavy fines -- up to 10 percent of global annual turnover -- on the companies involved.
They will, however, have an opportunity to defend themselves.
The companies include Mexican giant Cemex, Swiss construction chemicals maker Sika, and its Italian rival Mapei.
They also include two smaller specialised French firms, Chryso, a subsidiary of French giant Saint-Gobain, and TAM Groupe.
Saint-Gobain told AFP that it had "a zero-tolerance policy" toward anti-competitive practices and said that it "has no reason to anticipate any material financial impact" on its accounts.