GAC imposes SAR 91.1M fines on 6 gypsum firms for price fixing

The General Authority for Competition (GAC) imposed penalties on several establishments operating in the Saudi gypsum sector for violating the Competition Law on their illegal price fixing. They were fined SAR 91.1 million in total.

 

In a statement on its official X account, the authority said among the violating companies, TASI-listed National Gypsum Co. was fined SAR 10.7 million, while Nomu-listed United Mining Industries Co. bore a SAR 14.4 million fine.

 

The violating companies also included Al-Khayat Gypsum Co. Limited, which was fined SAR 23.4 million, Mada Gypsum Co. (SAR 19.9 million), Ask Gypsum Factory Co. Limited (SAR 19 million) and National Gypsum Co. (SAR 3.7 million).

 

GAC's board of directors issued its decision approving the procedures for investigation, search, gathering evidence, and after collecting evidence and information and conducting the necessary investigations, the Authority referred the violation to the Committee for the Resolution of Competition Law Violations.

 

Accordingly, the Committee issued its decision to penalize those companies for the proven violations.