June 8, 2018 / 7:49 AM / 11 days ago

EU competition officials raid companies in styrene monomer purchasing

BRUSSELS (Reuters) - The European Commission on Friday said it had raided companies in the styrene monomer purchasing sector, suspecting them of having violated the bloc’s cartel rules.

FILE PHOTO: A worker adjusts and cleans the logo of the European Commission at the entrance of the Berlaymont building, the EC headquarters, in Brussels September 12, 2013. REUTERS/Yves Herman

Styrene monomer is used as a base for chemical products such as plastics, rubbers and latexes.

The Commission, which did not name the companies involved, said it had no deadline to complete the investigation.

The European Commission acts as the competition watchdog in the European Union.

Reporting by Robert-Jan Bartunek

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