CMA hands down fines of almost £60 million after three-year collusion probe.
Ten firms have been handed fines totalling almost £60 million for their part in a bid-rigging scandal that has stained the reputation of the UK demolition industry.
The fines are the culmination of a more than three-year probe by the Competition and Markets Authority into collusion within the sector.
The fines are as follows:
- Brown and Mason (£2,400,000)
- Cantillon (£1,920,000)
- Clifford Devlin (£423,615)
- DSM (£1,400,000)
- Erith (£17,568,800)
- John F Hunt (£5,600,000)
- Keltbray (£16,000,000)
- McGee (£3,766,278)
- Scudder (£8,256,264)
- Squibb (£2,000,000)
According to industry news portal Construction Enquirer, Keltbray is already planning to lodge an appeal over the level of the fine that it described as “excessive when compared to Keltbray’s level of involvement.” We reported previously that Keltbray had made a £6 million provision in its annual accounts.
In addition to the fines, the CMA secured the disqualification of three directors of companies involved in the unlawful conduct. These are David Darsey (formerly a director of Erith) for a period of 5 years and 10 months from 2 February 2023; Michael Cantillon (formerly a director of Cantillon) for 7 years and 6 months; and Paul Cluskey (current director of Cantillon) for 4 years and 6 months.
For more background on this breaking news story, please check out our dedicated podcast, The CMA Files.