In May 2014, regarding its investigation into the sanitary industry in Switzerland, the Secretariat of the Swiss Competition Commission proposed that the Association of Swiss Wholesalers of the Sanitary Industry and major Swiss wholesalers, including CRH plc, should be fined CHF 283 million.
ComCo has announced its decision to enforce a fine of approximately CHF 80 million on the Association and major Swiss wholesalers, including a fine of approximately CHF 34 million on CRH plc. The fine imposed on CRH plc is approximately 70% less than the fine proposed by the Secretariat in May 2014.
The basis of ComCo’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.
Adapted from press release by Joseph Green