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