RMC faces new probe in Germany

CONCRETE and cement group RMC is under investigation by German cartel busters for the third time in three years.

RMC said today: 'As part of an industry-wide investigation into alleged anti-competitive practices in the cement industry in Germany two of RMC's locations were visited by representatives of the German Federal Cartel Office.'

RMC's businesses in Germany are under pressure due to the tough markets in Europe's largest economy and were put up for sale at £600m in the spring. The company was fined £34m in 1999 for being part of a concrete industry cartel in eastern Germany. Its offices were again raided in 2000 by anti-cartel officers, this time working in the south and west of the country.

An Irish government probe has found rival building materials group CRH partly to blame for letting its chairman run an unlicensed bank, Ansbacher, out of its offices in Ireland for eight years. The report was into the affairs of the late Des Traynor, CRH chairman until 1994.