MONTERREY, Mexico, Sept 22 (Mexico Cemex) – Spanish anti-trust authorities searched the local offices of Mexico’s Cemex on Tuesday in an investigation into possible price fixing by the cement maker, the company told U.S. securities regulators in a filing.

Cemex, the world’s No. 3 cement maker (CMXCPO.MX) (CX.N), said in the filing with the U.S. Securities and Exchange Commission that the search was part of an investigation of building materials companies in Spain “for possible unlawful practices consisting of price fixing and market sharing agreements.”

The filing said that if any companies were found guilty, they could face a penalty of up to 10 percent of total sales volumes. – Spain’s Government must be salivating at the prospects of getting some money for its cash strapped country.

Last year, the European Commission started a probe into possible cartel activity in the cement sector. Cemex said it had not been able to confirm whether the Spanish investigation was in addition to the EU probe.