EU Raids Polyurethane Companies in Cartel Probe

European Union antitrust regulators have raided several companies in the polyurethane foam industry on suspicion of breaching EU rules, the European Commission said on Tuesday. The raids were launched on July 27, the EU competition enforcer said.

"The Commission has reason to believe that the companies concerned may have violated European antitrust rules that prohibit cartels and restrictive business practices," the EU executive said.

It did not name the companies. Belgian firm Recticel said its premises in Belgium and the United Kingdom had been raided, as well as a unit in Austria.

German chemicals giant Bayer said it was not involved. Swiss chemicals group Clariant said it was acting only as a supplier for the polyurethane foam industry and was therefore not concerned by the regulator's raids.