(Sioux City)– An Iowa Ready-Mix concrete company has pleaded guilty in a price-fixing case.
The Department of Justice says that GCC Alliance Concrete Inc., of Orange City, pleaded guilty to participating in three separate conspiracies to fix prices and rig bids for the sale of Ready-Mix concrete in Iowa and other states.
The Justice Department, which announced the plea on Friday, says GCC Alliance agreed to pay a criminal fine, as determined by the court. The company was charged in federal court in Sioux City with violating the Sherman Act, which carries a maximum fine of $100 million for corporations.
Prosecutors say the company participated in conspiracies through its former sales manager, Steven Vandebrake. He pleaded guilty in 2010. The presidents of two other concrete companies also pleaded guilty in the case.
(From the Associated Press).
