CRH confirms watchdog search at Platin works

CRH has confirmed its Platin works in Ireland, owned by its subsidiary Irish Cement, has been searched by the Competition and Consumer Protection Commission.

“Irish Cement fully facilitated the inspection and is continuing to co-operate with the Competition and Consumer Protection Commission. Inspections regarding competition policies, procedures and practices are an accepted part of the business environment around the world.

“Irish Cement operates to the highest business standards across all elements of its operations and is confident that it has no issue in relation to competitive practice,” the company said.

The commission also confirmed it conducted searches at a number of premises in the bagged cement sector last Thursday but declined to comment on the firms involved.

According to reports over the weekend, officials seized thousands of documents. The raids are the start of an investigation into anti-competitive practices in the Irish cement industry, the Sunday Business Post report added.

The commission indicated that the searches conducted last week also included raids on cement retail outlets. It says its investigation is at an early stage, but the raids are part of a wider investigation.