€1.94 Million Fine for Concrete Companies by Cyprus Competition Authority

The Cyprus Competition Protection Authority (EPA) has imposed a total administrative fine of €1.94 million on companies involved in the production and trade of ready-mix concrete.

Decision number 73/2024, was issued on December 17, 2024, following an ex officio investigation into potential collusion among businesses between 2010 and 2014.

The violations concern price fixing, production restriction, and distortion of competition in the Limassol district, as well as the exchange of information regarding financial offers for the new Passenger Terminal at the Limassol Port.

The companies involved include I & S KRITONIS LIMITED, K. KYTHRAIOTIS SKYRODEMA LIMITED, BETOMAN LTD, MATTHAIOU IOANNOU ETOIMO BETON LTD, ATHINODOROU & POULLAS SUPER BETON LTD, ALFA CONCRETE PUBLIC COMPANY LIMITED, TOP MIX CONCRETE LTD, SKYRAMIX LTD, ALFA BETON LIMITED, and PSAROUDIS BETON LIMITED.

Additionally, fines were imposed on K. KYTHREOTIS HOLDINGS PUBLIC LIMITED, SKYRAMONT QUARRIES LTD, MEDCON QUARRIES LTD (now CYFIELD QUARRIES LTD), and M.S. (SKYRA) VASAS LTD for violations related to price fixing and production restriction of aggregates.

The EPA has ordered all involved companies to cease the violations and avoid their repetition.