NW IA concrete company pleads guilty to price-fixing

News

August 25th, 2011 by Ric Hanson

SIOUX CITY, Iowa (AP) – An Iowa company has pleaded guilty to being involved in a price-fixing conspiracy to sell ready-mix concrete at noncompetitive prices. The U.S. Justice Department says Spencer-based Great Lakes Concrete Inc. entered its plea Wednesday in U.S. District Court in Sioux City. An indictment filed earlier this month accused Great Lakes Concrete of participating in a conspiracy to fix prices for ready-mix concrete between January 2008 and August 2009.

Court documents show company president Kent Stewart pleaded guilty in 2010 and was sentenced in February to one year and a day in prison and fined more than $83,000. The company’s plea is the result of an ongoing investigation of the ready-mix industry in Iowa and surrounding states.