Price fixing by cement companies

IT wasn't a good week for the cement mixers either

IT wasn't a good week for the cement mixers either. The country's two biggest cement companies, CRH and the Sean Quinn Group, felt the long arm of the British courts. The two groups were among five firms who were found to be operating a price fixing agreement in the Northern Ireland market between 1985 and 1992.

An action in the British Restrictive Practices Court made orders against five concrete flooring companies in the North, including the Sean Quinn Group and Breton Precast, a CRH subsidiary, saying they were party to an agreement to fix product prices.

The undefended court hearing was taken by the Office of Fair Trading, following an investigation into the pre-stressed and reinforced concrete flooring business.

Meanwhile, CRH is currently appealing a £2.8 million fine imposed by the European Commission for being part of a European price fixing cartel.