Displaying items by tag: cartel

US: A court in Savannah, Georgia, has sentenced Evans Concrete and four executives for conspiring to fix prices, rig bids and allocate jobs in the local ready-mix concrete business between 2010 until 2016. Foreign Affairs News has reported that Evans Concrete will pay a US$2.7m fine, while alleged co-conspirator Argos USA will pay a US$20m criminal penalty under a deferred prosecution agreement. Of the four individuals, three will serve combined prison sentences of 72 months and pay a total US$210,000 in fines and one received a year’s probation.

The Justice Department’s Antitrust Division said "The Antitrust Division and its law enforcement partners will hold accountable those who seek to exploit the critical need for these materials to harm consumers."

Europe: The European Commission (EC), in coordination with the UK Competition and Markets Authority and the Turkish Competition Authority, launched unannounced antitrust inspections of additives and admixtures producers in ‘several’ countries. The EC said that the inspections form a preliminary step in an investigation of suspected anticompetitive practices.

Taiwan: The Taiwanese Fair Trade Commission (FTC) has fined 18 companies a total of US$7m for participation in a ready-mix concrete price-fixing cartel. The companies, including Taiwan Cement, all participate in the ready-mix concrete industry in Taoyuan Special Municipality. The FTC said that the companies have colluded both in person and via messaging apps in order to raise the price of concrete in Taoyuan, since 'as early as November 2018.' Other recipients of fines include Goldsun Building Materials, Ya Tung Ready Mixed Concrete and 15 companies based in Taoyuan. Fines range from US$16.5m up to US$329m for larger participants.

CNA News has reported that Taiwan Cement denies involvement in any cartel.