Pike Industries Inc.

Augusta, ME: (Sep-03-07) The state of Maine filed an antitrust suit against road paving company Pike Industries Inc., following Pike's purchase of Blue Rock Industries of Westbrook in December 2005. Blue Rock has been Pike's largest competitor in southern Maine. The suit stated that Pike's acquisition of Blue Rock violated antitrust laws; an allegation that Pike has denied. Pike has facilities across southern and central Maine and in New Hampshire, Vermont, Massachusetts and Rhode Island. As part of the settlement, Pike denied that its acquisition of Blue Rock violated antitrust laws. The settlement sets forth conditions to prevent a monopoly in the aggregate and hot mix asphalt industry. It also requires Pike to pay $20,000 in costs to the attorney general's office. The proposed settlement has been filed in Kennebec County Superior Court and awaits court approval. [WMTW NEWS: ASPHALT ANTITRUST]

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Published on Sep-5-07