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Galliford Try to appeal over £8.3m OFT fine
Construction firm Galliford Try yesterday launched an appeal against an £8.3m fine levied by the Office of Fair Trading (OFT) for anti-competitive practices.
The Uxbridge company was one of 103 firms hit with fines totalling 129.5m in September.
The watchdog's long-running probe found "endemic" bid-rigging and said companies colluded with competitors on building contracts.
But in a short statement, Galliford said it had submitted an appeal to the Competition Appeals Tribunal "in respect of the size of fine imposed on the company". Galliford Try was hit with the joint-third biggest fine when the OFT announced its penalties two months ago.
The firm was punished for three incidents of 'cover-pricing'. This is where a builder who wants to stay on good terms with a client, but does not want a particular job, colludes with another bidder to gain a price for the contract that is too high to win the work.
Galliford argued the episodes took place up to eight years ago in parts of the firm's building business based in England that have since closed or restructured.
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Thursday 24 May 2012
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