LATEST NEWS Concrete
February 5, 2013
Alleged price-fixing in Toronto’s low rise concrete forming sector
An investigation has been launched by Canada’s Competition Bureau into an alleged price-fixing conspiracy by some Toronto-area residential low rise concrete forming companies.
The Bureau alleges that over the last 15 years price-fixing by certain companies and the Residential Low Rise Forming Contractors Association of Metropolitan Toronto (LRFA) contravened the Competition Act. The Bureau states, in a court document obtained by the Daily Commercial News, that the accused colluded to fix the price of concrete forming, resulting in reduced competition, through an agreement to not compete with each other for contracts. This price-fixing conspiracy is alleged to have started as early as 1997.
“The available facts provide reasonable grounds to believe that the LRFA, whose membership consists of the majority of large contractors who compete with one another in Toronto and vicinity, and the other alleged co-conspirators, and other persons known and unknown, agreed to fix prices of concrete forming services and to allocate builders,” states the March 2012 affidavit by a Bureau investigator.
The Bureau’s investigation is ongoing and the allegations have not been proven in court.
Stay tuned for more industry reaction to this developing story by the Daily Commercial News.
For more construction news follow @DCN_Canada on Twitter.
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