Hungarian concrete firms fined EUR9m

Hungarian concrete firms fined EUR9m

Eight ready-mixed concrete companies and the Hungarian Concrete Association were fined a total HUF2.79bn (EUR9m) for setting prices and colluding on market share by the country’s competition office, the Gazdasági Versenyhivatal (GVH). The GVH said the cartel activity took place between 2005 and 2007 and cited the fact that meetings were held in high secrecy as an aggravating factor.

The following fines, which include some cement producers with downstream ready-mix businesses, were imposed by the GVH: Betonpartner Magyarorszáag HUF185m, Cemex Hungária HUF644m, DBK-Földgép HUF192m, Duna-Dráva Cement HUF466m, Frissbeton Betongyártó és Forgalmazó HUF54m, Osteuropaische Zementbeteiligungs HUF550m, Lasselsberger Hungária HUF270m, Strabag Építo HUF428m and the Hungarian Concrete Association a token HUF1m.