29th November 2022
Outcome of European Commission investigation
Synthomer plc ("Synthomer") notes today's publication of the European Commission's decision following its investigation into Styrene Monomer purchasing practices between 2012 and 2018. Synthomer first disclosed this investigation to the market in June 2018 and has since completed a detailed review of its compliance and procurement functions.
The decision has resulted in a fine of €43.0m (£37.1m), modestly below the £40.1m provision that Synthomer announced at its interim results in August 2022. The fine is payable in 2023.
-ENDS-
Enquiries:
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Investors: |
Tim Hughes, Synthomer |
+ 44 7764 859147 |
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Press: |
Charlie Armitstead, Teneo |
+44 7703 330269 |