A PYMNTS Company

UK: Construction cartel fined £36M by competition watchdog

By  |  November 3, 2019

Three construction firms have been fined more than £36 million (US$31 million) by the UK’s competition watchdog for price-fixing. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Competition and Markets Authority stated that from July 2006 to March 2013, the three firms – Northern Ireland-based FP McCann, Derbyshire-based Stanton Bonna Concrete, and Somerset-based CPM Group – agreed to fix or coordinate their prices, shared the market by allocating customers and regularly exchanged competitively sensitive information.

    FP McCann faces a fine of more than £25 million (US$32.3 million), while Stanton Bonna and CPM Group have been ordered to pay £7 million (US$9.1 million) and £4 million (US$5.2 million) respectively. The latter two companies last year admitted breaking competition law and had their fines reduced as a result.

    Full Content: Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.