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Competition office fines cement firms HUF 2.8 bln

Telco

Eight ready-mixed concrete companies and the Hungarian Concrete Association were fined a total HUF 2.79 bln, for setting prices and colluding on market share, by the country’s Competition Office GVH, the office announced today.

GVH said the cartel activity took place between 2005 and 2007 and entitled the activity as an aggravating factor as the meetings were held in high secrecy.

The fines GVH said it was meting out in the case are as follows:

   - Betonpartner Magyarorszáag HUF 185 mln,

   - Cemex Hungária HUF 644 mln,

   - DBK-Földgép HUF 192 mln,

   - Duna-Dráva Cement HUF 466 mln,

  - Frissbeton Betongyártó és Forgalmazó HUF 54 mln,

  - Osteuropaische Zementbeteiligungs HUF 550 mln,

  - Lasselsberger Hungária HUF 270 mln

  - Strabag Építő HUF 428 mln, and

  - the Hungarian Concrete Association a token HUF 1 mln.

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