Monday 24 July 2017

Swiss CRH investigation results due soon

Swiss units of CRH have already been told they're being fined €32m
Swiss units of CRH have already been told they're being fined €32m
John Mulligan

John Mulligan

The Swiss Competition Commission remains on course to issue findings by the end of this month regarding fines it's hitting companies with, including subsidiaries of CRH, following a probe into the country's Association of Swiss Wholesalers of the Sanitary Industry.

Swiss units of CRH have already been told they're being fined €32m, with total fines the competition watchdog is planning to levy against the association totalling CHF 80m (€74m).

A spokesman for the commission told the Irish Independent that CRH and other parties will have 30 days from the issue of findings to appeal the fines.

He added that the commission is on track to deliver its findings at the end of the month.

In 2014, the watchdog proposed that the fines should be imposed on the association. The total fine against the wholesalers was originally CHF 283m (€261m), but was cut this summer. CRH has insisted that the commission's position is "fundamentally ill-founded".

Irish Independent

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