TWO senior figures involved in South Derry construction giant FP McCann have each been banned from acting as directors for the next decade for their role in a price-fixing cartel.
Former managing director Eoin McCann (64), who has the largest controlling share in the family owned business, has been disqualified for 12 years.
Francis McCann (51) has been handed an 11-year ban.
The move follows the Competition and Market Authority’s (CMA) 2019 decision that FP McCann Ltd, along with two other suppliers of pre-cast concrete drainage products - Stanton Bonna Concrete Ltd and CPM Group Ltd - infringed competition law.
The CMA found that, from July 2006 to March 2013, the suppliers agreed among themselves to fix or coordinate their prices; shared out the market by allocating customers and exchanged with each other competitively sensitive information.
The ruling resulted in a £25.5 million fine for FP McCann.
The Derry firm appealed the decision, but the Competition Appeal Tribunal upheld the CMA’s determination in December 2020.
The CMA said both Francis McCann and Eoin McCann had been directors during the entire period in which the infringing conduct took place.
The watchdog described them attending “regular cartel meetings on behalf of FPM”.
Although both executives resigned as directors on December 31 2020, the CMA said their bans would not commence until March 31.
Executive director of enforcement at the CMA, Michael Grenfell, said the length of the bans reflected the seriousness of the case.
“The CMA will continue to take strong action, where necessary, to protect the public from illegal anticompetitive practices,” he said.
“The message to directors is clear – you are personally responsible for ensuring that your company complies with competition law, and if it doesn’t you risk disqualification."
