The Commission for the Protection of Competition of Cyprus has imposed administrative fines totaling €1,947,140.71 on several companies active in the production, marketing, distribution, and sale of ready-mixed concrete for infringing Article 3 of the Protection of Competition Law. The decision, adopted on 17 December 2024 and published on 4 November 2025, follows an ex officio investigation into potential collusion in the ready-mix concrete market.
The Commission found that a number of companies had engaged in secret agreements and concerted practices aimed at fixing prices, restricting production and distribution, allocating markets and customers, and exchanging sensitive commercial information. These anti-competitive practices were found to have taken place primarily in the Limassol district between 2011 and 2014.
According to the Commission, the first violation involved price fixing and the restriction of production and distribution of ready-mixed concrete. The companies I & S Kritonis Limited, K. Kythraiotis Skyrodema Limited, Betoman Ltd, Mattheos Ioannou Ready-Mixed Concrete Ltd, Athinodorou & Poullas Super Beton Ltd, Alfa Concrete Public Company Limited, Top Mix Concrete Ltd, Skyramix Ltd, Alfa Beton Limited, and Psaroudis Beton Limited participated in an arrangement that involved the direct or indirect exchange of commercially sensitive information, resulting in price coordination and market control.
The second infringement concerned the restriction of production and distribution, market allocation, and conditioning agreements with customers on the acceptance of additional obligations. Between 2011 and 2012, the same group of companies coordinated to allocate clients and regions while requiring debt repayments to cartel members as a condition for new contracts.
A third violation involved the exchange of confidential financial offers submitted for the construction of the new Passenger Hall at the Port of Limassol. The companies K. Kythraiotis Skyrodema Limited, Alfa Concrete Public Company Limited, I & S Kritonis Limited, Top Mix Concrete Ltd, Mattheos Ioannou Etoimo Beton Ltd, and Athinodorou & Poullas Super Beton Ltd were found to have shared information on their bids to distort the competitive tender process.
The Commission also unanimously determined a fourth violation concerning price fixing and the restriction of production and distribution of aggregates. K. Kythreotis Holdings Public Limited, Skyramont Quarries Ltd, Medcon Quarries Ltd (now Cyfield Quarries Ltd), and M.S. (Skyra) Vasas Ltd were found to have colluded between 2012 and 2014 by exchanging sensitive information to coordinate prices and control output.
The Commission ordered all companies involved to cease the infringements and to refrain from any repetition in the future. Administrative fines were imposed proportionately to the gravity and duration of each violation, as well as the turnover of the infringing companies. The total fine of €1,947,140.71 includes €409,898.04 on K. Kythraiotis Skyrodema Limited, €503,379.30 on Athinodorou & Poullas Super Beton Ltd, €202,361.76 on Mattheos Ioannou Ready-Mixed Concrete Ltd, €167,599.42 on Alfa Beton Limited, €143,049.25 on K. Kythreotis Holdings Public Limited, and smaller amounts on other participants.
The decision will be published in the Official Gazette of the Republic of Cyprus and on the Commission’s website after the removal of confidential information.
