St Gobain see no financial impact from EU construction chemicals cartel probe

By Foo Yun Chee

BRUSSELS (Reuters) -French construction company Saint-Gobain on Wednesday said it does not see any financial impact from an EU antitrust investigation into a possible construction chemicals cartel involving several companies.

The company had earlier said it was cooperating with EU antitrust regulators that had launched dawn raids a day earlier at the unnamed companies.

“At this stage we see no reason to believe there will be a impact for Saint-Gobain,” the company said in an email.

It said inspections had taken place at its construction chemicals business unit site in Turkey.

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

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.

(Reporting by Foo Yun Chee; editing by Jason Neely and Bill Berkrot)