By Megan Leonhardt

Law360, New York (January 26, 2012, 5:19 PM ET) -- Spain's competition regulator said Thursday it had raided the offices of companies producing elastomeric and polyurethane foam insulation amid suspicions the manufacturers were engaging in anti-competitive behavior, including price fixing.

The unannounced inspections, which were held on Jan. 25, mark the first step in an investigation of anti-competitive practices in the elastomeric and polyurethane foam insulation industry, according to Spain’s National Competition Commission, or CNC.

“The investigation of cartels is a priority area of CNC action, given the especially severe impact such practices have on consumers,”...