Norwegian road builders in price fixing probe

Norway's largest asphalt contractors, Kolo Veidekke and NCC Roads, are under investigation by the country's antitrust authority for possible price collusion.

The Norwegian Competition Authority (NCA) said it had been investigating possible illegal collusion between the two companies since February last year. The NCA said it had conducted several dawn raids and interviews, and described the case as "the highest priority".

NCC said it was cooperating with the investigation. The company's general counsel, Håkan Broman, said the company condemns any breach of competition legislation.

"The information that has emerged in recent days indicates that price collusion may have taken place, which is entirely contrary to NCC's values and approach to conducting business. We are working with the NCA to find out what has occurred as soon as possible," Mr Broman said.

Kolo Veidekke also said it was cooperating with the NCA probe, and a spokesman added that the company had a zero tolerance policy to any illegal activity and was "working to bring all the details to the surface".

The NCA can impose fines on the enterprises if they are found guilty, while prosecuted individuals can receive up to six years in prison.