COURT action has been taken against five Northern concrete flooring companies accused of being involved in a price fixing cartel, the British Office of Fair Trading (OFT) has said.
The five firms, which make pre-stressed and reinforced concrete flooring, are the Sean Quinn Group, of Derrylin, Co Fermanagh, Foylespan Floors of Limavady, William A Lees (Concrete) of Magherafelt Spandeck of Portadown and Belfast based Breton Precast. The companies were all found to have been involved in a pricing agreement during different periods between 1985 and 1992.
In an undefended hearing at Restrictive Practises Court, orders were made against four of the companies, and undertakings were accepted from the fifth, Breton Precast, not to implement any formal agreements without first submitting details to the OFT. The proceedings were brought by the director general of Fair Trading, Mr John Bridgeman, after investigations by the OFT.
Similar investigations in Britain recently uncovered cartels among British suppliers of products used ion the construction industry, according to the OFT.
Last year, record fines were imposed on a number of British ready mixed concrete firms who were found to have breached court orders prohibiting cartel activity.
"Cartels have a pernicious effect on the markets in which they operate in particular in the way in which they raise prices to uncompetitive levels," according to the OFT.
"The director general of fair trading is determined to bring such agreements to an end," an OFT spokesman said.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)