CRH threatened with €98m fine by Swiss authoritiesFriday 30 May 2014 18.46
Building materials company CRH faces a €98m fine from Swiss competition authorities as part of a pending investigation into the country’s bathroom fixtures industry.
Switzerland’s Competition Commission has proposed a €232m fine for the Association of Swiss Wholesalers of the Sanitary Industry, which includes three CRH subsidiaries amongst its members.
The body alleges infringements on the country’s competition law and has invited the companies involved to comment on its proposals.
In a statement, CRH said it believed the position of the authority to be “fundamentally ill-founded” and said the proposed fine was “unjustified”.
It said it intended to respond to the body to this effect.
CRH said the decision of the Swiss Competition Commission is likely to be announced in late 2014 or early 2015 and can ultimately be appealed to the country’s Federal Supreme Court.