Cartel provisions

01 May 2008

The netherlands’ two largest contractors have made provisions in their 2004 accounts for expected fines relating to anti—competitive behaviour. Both companies, BAM and Heijmans, took charges on their 2003 accounts for similar offences.

Both companies were implicated in two major cartels in the Dutch construction industry in the final quarter of last year (see November 2004 CE). The first was alleged to involve 13 companies involved in the Dutch bitumen market, and this is under investigation by the European Commission. The second was thought to involve 400 construction companies involved in almost every sector of the Dutch market. This was investigated by the Dutch Competition Authority (NMa).

BAM is expecting fines up to €40 million, while Heijmans has made a €30 million provision. BAM made provisions of €27,4 million in its 2003 accounts for similar previous offences and Heijmans booked a charge of €15 million in the same year.

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