€1.94 Million Fine Imposed on Concrete Companies by Competition Authority

The Cyprus Commission for the Protection of Competition (ΕΠΑ) has imposed administrative fines totaling €1,947,140.71 on companies operating in the production, distribution, and marketing of ready-mix concrete.

Decision 73/2024, issued on December 17, 2024, concerns an ex officio investigation into possible cartels between 2010 and 2014, aimed at hindering competition, according to Article 3 of the Law on the Protection of Competition.

The violations include price fixing, restriction of production and distribution of ready-mix concrete in the Limassol district, and exchange of information regarding financial offers for the new Passenger Terminal at the Limassol Port.

The companies involved are I & S KRITONIS LIMITED, Κ. ΚΥΘΡΑΙΩΤΗΣ ΣΚΥΡΟΔΕΜΑ ΛΙΜΙΤΕΔ, BETOMAN LTD, ΜΑΤΘΑΙΟΣ ΙΩΑΝΝΟΥ ΕΤΟΙΜΟ ΜΠΕΤΟΝ ΛΤΔ, ATHINODOROU & POULLAS SUPER BETON LTD, ALFA CONCRETE PUBLIC COMPANY LIMITED, TOP MIX CONCRETE LTD, SKYRAMIX LTD, ALFA BETON LIMITED, and ΨΑΡΟΥΔΗΣ ΜΠΕΤΟΝ ΛΙΜΙΤΕΔ.

In addition, fines were imposed on Κ. KYTHREOTIS HOLDINGS PUBLIC LIMITED, SKYRAMONT QUARRIES LTD, MEDCON QUARRIES LTD (now CYFIELD QUARRIES LTD), and M.Σ. (ΣΚΥΡΑ) ΒΑΣΑΣ ΛΤΔ for price fixing and restricting the production of aggregates.

The ΕΠΑ has ordered the companies to cease the violations and avoid their repetition. The decision will be published in the Official Gazette of the Republic and on the ΕΠΑ website.