UK OFT Accuses Construction Industry of Bid Rigging

17 April 2008 (Last Updated April 17th, 2008 11:45)

The UK Office of Fair Trading (OFT) has named 112 construction companies it says have engaged in bid-rigging activities, with heavyweights Balfour Beatty, Carillion and Kier making the list. In its Statement of Objections to the London Stock Exchange this morning, the OFT alleged the co

The UK Office of Fair Trading (OFT) has named 112 construction companies it says have engaged in bid-rigging activities, with heavyweights Balfour Beatty, Carillion and Kier making the list.

In its Statement of Objections to the London Stock Exchange this morning, the OFT alleged the companies had changed their tenders so ensure they would not receive work to protect their relationship with a client.

Companies on the list have been given ten weeks to speak up against the allegations or face fines of up to ten percent of their annual profit.

The work covers that done for housing, commercial and industrial properties in both the private and public sector.

By Penny Jones