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Hungary: Concrete cartel shattered by regulators

By  |  July 8, 2014

Hungarian competition authorities have imposed millions of dollars of fines on several concrete companies after they were found to have formed an anticompetitive cartel, say reports.

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    Eight cement producers were sanctioned a total of $12.3 million for running the cartel between 2007 and 2007, as discovered by the GVH competition watchdog. In a statement, the GVH announced that of the companies, Cemex Hungaria was required to pay the most, with a $2.83 million penalty.

    The firms were found to have colluded to fix prices and divide up markets, regulators said.

    Full content: Reuters

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