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Synthomer included in EU styrene monomer purchasing probe
Specialist chemicals maker Synthomer said it had been included in a European Commission anti-trust probe into practices relating to the purchase of styrene monomer in the European Economic Area.
In a statement, Synthomer said commission investigators had visited its London office this week.
"The company takes competition laws very seriously and will continue to fully cooperate with the commission throughout its investigation," Synthomer said.
The European Commission (EC) on Friday confirmed that its officials raided the offices of companies buying styrene monomer "in several member states" on June 5.
"The commission has concerns that the inspected companies may have violated EU antitrust rules that prohibit cartels and restrictive business practices. The commission officials were accompanied by their counterparts from the relevant national competition authorities," the EC said in a statement.
Styrene monomer is a chemical product used as a base material for a number of chemical products such as plastics, resins, rubbers and latexes. These products are then used in a very wide range of applications such as insulation, packaging, toys, recreational equipment, consumer electronics and safety helmets.