Saudi Gazette report

RIYADH — The Saudi General Authority for Competition has penalized six companies operating in the gypsum sector for committing violations. A total of SR91.1 million fines were imposed on these companies after they were found guilty of agreeing to fix prices in violation of the Competition Law.

Two of these companies are listed on the Saudi Tadawul Stock Market and Nomu Parallel Stock Market. The authority also ordered to publish their violations in the local media outlets at their own expense.

The following are the amounts of fine imposed on these companies: SR10.7 million — National Gypsum Company; SR14.4 million — United Mining Industries Company; SR23.4 million — Al-Khayat Gypsum Company; SR19.9 million — Mada Gypsum Limited; SR 19 million — ASK Gypsum Factory Limited, and SR 3.7 million — the National Gypsum Company.