Builders hit with £130m fine after bid rigging scam is exposed
Shares in most construction sector companies plunged yesterday after 103 buildings firms were fined almost £130m by the Office of Fair trading after an investigation into bid rigging and competition distortion that drove up the cost of building schools, universities, hospitals and other projects.
While none of the companies fined were Scottish and none of the construction projects were undertaken north of the border, many of the firms -- such as Kier Group, Galliford Try, Balfour Beatty, John Sisk & Son and Carillion - are well-known names across Scotland.