Switzerland: CRH facing €32 million Swiss fine

CRH is facing a €32 million a fine from the Swiss Competition Commission following an investigation into the bathroom fixtures and fittings industry.

In a statement released on Friday CRH confirmed that Comco is imposing a CHF80m fine on the Association of Swiss Wholesalers of the Sanitary Industry, including a fine of approximately CHF34 million (€32 million) on CRH plc.

The basis of the competition watchdog’s findings is expected to be available in four months, at which time CRH has the option to appeal the decision to the Federal Administrative Tribunal.

CRH said that it is surprised at the unprecedented decision by ComCo not to publish the basis of its findings at the same time as informing the public of its decision, considering that ComCo had been reviewing and considering this matter for over nine months.

“CRH continues to be of the view that the position of ComCo is fundamentally ill-founded and views the proposed fine as unjustified,” the company said in a statement.

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