Eight concrete producers operating on the Hungarian market have been accused of running a cartel ring that stifled competition between 2005 and 2007. The companies and the Hungarian Concrete Association were fined a total of HUF 2.79bn this week by GVH, Hungary’s competition watchdog. Cemex Hungaria Kft was fined HUF 644m, while Austria’s Strabag Epito Zrt was hit with HUF 428m and Osteuropeische Zementbeteiligungs AG was ordered to pay HUF 550m.
“When setting the fine, GVH considered it a key factor that price fixing and dividing the market qualifies as a hardcore cartel and the businesses, with their behavior which violated the law, significantly limited competition,” the GVH was quoted as saying in a Reuters report.
The other companies that were fined, according to the Budapest Business Journal, include Duna-Drava Cement (HUF 466m), Lasselsberger Hungaria (HUF 270m), DBK-Foldgep (HUF 192m), Betonpartner Magyarorszaag (HUF 185m) and Frissbeton Betongyarto es Forgalmazo (HUF 54m). The Hungarian Concrete Association was also fined HUF 1m.
