Nicosia, November 4, 2025 — The Cyprus Commission for the Protection of Competition (CPC) has imposed a total fine of €1,947,140.71 (approximately $2.2 million) on several companies active in the production, supply, and marketing of ready-mix concrete for engaging in anticompetitive collusion.
The decision, adopted on 17 December 2024, follows an ex officio investigation into potential collusion in the ready-mix concrete sector between 2010 and 2014. The probe focused on coordination in pricing, market allocation, and restrictions of production and distribution in the Limassol district.
Findings of the Investigation
The CPC concluded that multiple companies, including I & S Kritonis, K. Kythreotis Skyrodema, Betoman, Matthaios Ioannou Etoimo Beton, Athinodorou & Poullas Super Beton, Alfa Concrete Public, Top Mix Concrete, Skyramix, Alfa Beton, and Psaroudis Beton, engaged in secret agreements to:
- Fix prices for ready-mix concrete and pumping services;
- Restrict and control production and distribution; and
- Exchange commercially sensitive information.
A second infringement involved market and customer allocation, as well as conditioning contracts with new customers on repayment of debts to cartel members. A separate coordination was found in price submissions for the Limassol Port Passenger Terminal, and a fourth infringement involved collusion among quarry operators to fix aggregate prices and restrict output between 2012 and 2014.
Fines and Orders
The CPC ordered all companies to cease and desist from the infringements and avoid recurrence.
Key fines include:
- K. Kythreotis Skyrodema Ltd — €409,898.04
- Athinodorou & Poullas Super Beton Ltd — €503,379.30
- Matthaios Ioannou Etoimo Beton Ltd — €202,361.76
- I & S Kritonis Ltd — €114,366.15
- Alfa Beton Ltd — €167,599.42
- Betoman Ltd — €42,733.23
- Skyramix Ltd — €80,936.93
- Psaroudis Beton Ltd — €5,027.07
In addition, for the quarry cartel, fines were imposed on:
- K. Kythreotis Holdings Public Ltd — €143,049.25
- Skyramont Quarries Ltd — €107,221.48
- Cyfield Quarries Ltd (formerly Medcon Quarries Ltd) — €69,272.20
- M.S. (Skyra) Vasas Ltd — €101,295.88
