Business
Federal Cartel Office fines road construction companies for price fixing
The Federal Cartel Office has imposed a fine of 60 million euros on several road construction companies for price fixing that lasted until 2019.
The Federal Cartel Office has announced that several road construction companies have been fined a total of 60 million euros. The reason for this penalty is price fixing, which allowed the companies to divide the market for asphalt repair among themselves.
To conceal the illegal agreements, the companies involved reportedly used specific code words. This was discovered during investigations prompted by tips concerning unlawful competitive practices.
The price fixing is said to have persisted until 2019. The Federal Cartel Office's decision aims to eliminate anti-competitive practices and improve market conditions.
The fine is part of a broader investigation aimed at increasing transparency in the area of public contracts. The Federal Cartel Office considers this decision an important signal against unfair competition.
The affected companies have not yet publicly responded to the decision. The Federal Cartel Office has announced that it will continue to take action against anti-competitive behavior.
The authority calls on other companies to adhere to competition law regulations and to independently report any irregularities in order to avoid similar cases.