The Cyprus Commission for the Protection of Competition (CPC) has imposed fines totaling €1.95 million on a group of ready-mix concrete and quarry companies after uncovering collusive practices that distorted competition in the construction materials sector.

The Commission concluded an ex officio investigation into the production, distribution, and placement of ready-mix concrete in Cyprus. The probe focused on alleged collusion between 2010 and 2014 among key market players to manipulate prices, restrict output, and divide customers — actions found to violate Article 3(1) of the Protection of Competition Law.

The CPC identified four distinct infringements:

1. Price-fixing and production control

Ten companies — I & S Kritonis Ltd, K. Kythreotis Ready-Mix Ltd, Betoman Ltd, Matthaios Ioannou Ready-Mix Concrete Ltd, Athinodorou & Poullas Super Beton Ltd, Alfa Concrete Public Company Ltd, Top Mix Concrete Ltd, Skyramix Ltd, Alfa Beton Ltd, and Psaroudis Beton Ltd — were found to have coordinated prices and controlled the production and supply of concrete in the Limassol district between 2011 and 2014.

2. Market allocation and restrictive practices

Between 2011 and 2012, 9 out of those 10 firms were also found to have exchanged sensitive information to divide customers and restrict new market entry, linking agreements with clients to the repayment of debts owed to cartel members.

3. Bid-rigging for Limassol Port Terminal project

Six companies (I & S Kritonis Ltd, K. Kythreotis Ready-Mix Ltd, Matthaios Ioannou Ready-Mix Concrete Ltd, Athinodorou & Poullas Super Beton Ltd, Alfa Concrete Public Company Ltd, Top Mix Concrete Ltd) were deemed to have unlawfully exchanged information on their bids for the new passenger terminal at the Limassol Port, in a scheme aimed at manipulating tender outcomes.

4. Price-fixing in quarry materials

Four quarry operators — K. Kythreotis Holdings Public Ltd, Skyramont Quarries Ltd, Medcon Quarries Ltd (now Cyfield Quarries Ltd), and M.S. (Skyra) Vasas Ltd — were found guilty of colluding between 2012 and 2014 to fix prices and restrict output of aggregates.

The Commission ordered all companies involved to immediately cease the illegal practices and to refrain from any future coordination. Administrative fines totaling €1,947,140.71 were imposed, reflecting the severity and duration of each infringement as well as mitigating factors.

The largest penalties were levied against Athinodorou & Poullas Super Beton (€503,379), K. Kythreotis Ready-Mix (€409,898), and Matthaios Ioannou Ready-Mix (€202,362). The remaining companies received smaller fines ranging from €5,000 to €167,000.

In the quarry materials case, Kythreotis Holdings was fined €143,049, Skyramont Quarries €107,221, M.S. Skyra Vasas €101,296, and Medcon (Cyfield) Quarries €69,272.

The CPC stated that the decision will be published in the Official Gazette and made available on its website in due course.