Competition Council confirms building supplies cartel ruling

The Competition Council has fined construction supplies retailers Depo DIY, Kesko Senukai Latvia and Tirdzniecibas Nams Kursi a total of 5.78 million euros for running a cartel, the Competition Council's representative Toms Noviks told the LETA newswire October 12.

Of this amount, Depo will have to pay a fine of EUR 3,718,323, Tirdzniecibas Nams Kursi - EUR 1,145,077 and Kesko Senukai Latvia - EUR 920,618 fine.

As previously reported by LSM, Depo has announced that it intends to fight the ruling through the courts.

The Competition Council also said it had settled its dispute with building materials producers Knauf and Norgips, and home improvement store Kruza, as the three companies agreed to pay a fine of EUR 1.6 million.

According to the Competition Council, the companies involved in the scheme had been harmonizing prices for Knauf and Norgips products they were selling, thus undermining market-place competition.

The Competition Council's conclusions are based on analysis of the companies' emails.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Related articles
Most read

Please be aware that the LSM portal uses cookies. By continuing to use this site, you agree that we may store and use cookies on your device. Find out more

Accept and continue