Balfour Beatty carried out a “thorough and detailed audit” of all its businesses after it was informed it would be investigated for cover pricing, the company said this morning as subsidiary Mansell was fined £5.2 million by the Office of Fair Trading.
The group said: “Balfour Beatty, the international engineering, construction and services group, notes this morning’s announcement from the Office of Fair Trading in relation to the decision arising from its industry-wide investigation into tender activities across the construction sector.
“The OFT investigation, which was initiated in 2004, uncovered instances of certain practices in a large number of companies across the construction sector. The OFT has determined that these practices amount to breaches of competition law in the UK. As a result of the decision, a subsidiary of Balfour Beatty, Mansell, is to be fined £5.2m, in respect of such instances, all of which took place before its acquisition by Balfour Beatty.
“The company and its operating businesses have co-operated fully with the OFT in all aspects of its investigation. In light of the investigation, Balfour Beatty carried out a thorough and detailed audit of all its businesses to ensure that it is fully compliant with all aspects of competition law.
“The company also developed and implemented a comprehensive and detailed training and education programme for all key employees which is repeated at regular intervals. Balfour Beatty is confident that all of its employees are fully aware of the law and its intent, and that they follow appropriate practices. Balfour Beatty neither promotes nor condones anti-competitive behaviour.”