BRUSSELS—European Commission officials have carried out "unannounced inspections" of companies active in styrene monomer purchasing.
According to a June 8 release issued by the EC, the raids were carried out June 5 in several member states as a response to concerns about cartel activities and restrictive business practices in the industry.
Styrene monomer is a raw material for a number of chemical products such as plastics, resins, rubbers and latexes, the statement noted.
Commission officials were accompanied by their counterparts from the relevant national competition authorities during the unannounced inspections—a preliminary step in investigations into suspected anti-competitive practices.
The EC pointed out that the inspections do not mean that the companies are guilty of ant-icompetitive behavior nor does it prejudge the outcome of any investigation.
There is no legal deadline to complete inquiries into anti-competitive conduct, the Commission added.