Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
Receive the latest mybusiness newssign up

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Cement Australia fined $20m for anti-competitive conduct

Gavel, judgement, verdict

One of the country’s largest suppliers of cement products has been slapped with fines of more than $20 million after being found guilty of anti-competitive conduct.

Queensland-headquartered Cement Australia, which supplies cement products, alternative fuels and waste management services and has sites across the east coast as well as in Tasmania and South Australia under its group of companies, appealed an earlier court penalty of $17.1 million for making and giving effect to agreements that were anti-competitive.

The Australian Competition and Consumer Commission (ACCC) also appealed the verdict, but sought an increase to the original penalties.

Advertisement
Advertisement

However, the Full Court of the Federal sided with the ACCC and increased the penalties to a total of $20.6 million.

That amount was made up of a $7.29 million penalty against Cement Australia itself, in addition to penalties of $10.28 million against Cement Australia Queensland (formerly QCL), $2.93 million against Pozzolanic Enterprises and a further $100,000 against Pozzolanic Industries.

ACCC chairman Rod Sims said his organisation appealed the decision because he wants penalties to serve as a deterrent for future wrongdoing by large businesses.

“The ACCC needs to ensure that penalties act as an effective deterrent for the business concerned and are not simply viewed by large corporations as a cost of doing business,” he said.

The case brings an end to the long-running saga, after the ACCC first launched legal action against the group of companies in 2008.

It wasn’t until 2014 that the Federal Court determined there had been numerous breaches of competition law, and handed down fines worth $18.6 million, that were later reduced by one count to $17.1 million.

SPONSORED CONTENT

 

Both the ACCC and Cement Australia appealed that verdict mid last year.

Adam Zuchetti

Adam Zuchetti

Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016. 

The two-time Publish Awards finalist has an extensive journalistic career across business, property and finance, including a four-year stint in the UK. Email Adam at This email address is being protected from spambots. You need JavaScript enabled to view it.

comments
FROM THE WEB
Cement Australia fined $20m for anti-competitive conduct
mybusiness logo