Hungary: Concrete cartel shattered by regulators

Hungarian competition authorities have imposed millions of dollars of fines on several concrete companies after they were found to have formed an anticompetitive cartel, say reports.

Eight cement producers were sanctioned a total of $12.3 million for running the cartel between 2007 and 2007, as discovered by the GVH competition watchdog. In a statement, the GVH announced that of the companies, Cemex Hungaria was required to pay the most, with a $2.83 million penalty.

The firms were found to have colluded to fix prices and divide up markets, regulators said.

Full content: Reuters

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