Keltbray hit with increased £18 million fine
Demolition contractor loses bid-rigging appeal against original £16 million penalty from UK's competition watchdog
KELTBRAY have been told to pay an increased fine of £18 million for their role in the demolition sector’s bid-rigging scandal after the company lost its appeal against the original £16 million fine it was hit with last year.
The demolition firm was among 10 companies fined a total of £60 million by the Competition and Markets Authority (CMA) in March 2023, following an investigation into cover bidding in the sector.
Keltbray were one of eight companies to have entered a settlement agreement with the CMA, in which the business admitted liability for eight infringements in return for a reduced penalty.
However, Keltbray launched an appeal against the original £16 million fine – which included a 20% reduction by the CMA on the initial penalty of £20 million – arguing it was excessive based on the company’s turnover. But the Competition Appeal Tribunal has ruled against Keltbray and increased their fine to £18 million.
Other companies found guilty of bid-rigging during the investigation were Brown and Mason, Cantillon, Clifford Devlin, DSM, Erith, JF Hunt, McGee, Scudder, and Squibb. But only Keltbray persisted in an appeal after deciding to contest the level of the CMA’s fine.
