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A second demolition contractor has said it is appealing the amount it has been fined by the Competition and Markets Authority for its involvement in the sector鈥檚 bid-rigging scandal.

Squibb was one of 10 firms fined a total of nearly 拢60m last week by the cartel-buster with the biggest fine handed out to Erith at 拢17.6m

Along with Erith, Essex-based Squibb was one of two firms which contested the CMA鈥檚 provisional findings last summer.

But even though the CMA cleared it of making so-called 鈥榗ompensation payments鈥�, having initially been found guilty of doing so, the firm was hit with a 拢2m fine.

On the day the CMA released its verdicts last Thursday, Squibb said it was looking at 鈥渋ts next course of action鈥�, claiming its fine was 鈥渄isproportionate鈥�, arguing it had been found guilty of 鈥渢wo acts of simple cover pricing鈥� and adding that 鈥渋t is also our understanding that the clients were not disadvantaged, and these two instances are considered to be at the low end of the scale of seriousness in terms of overall economic effect鈥�.

In its latest statement, released yesterday, the firm, which in its most recent accounts had a 拢33m turnover in the year to January 2022, said it 鈥渨ill be initiating an appeal against the CMA鈥檚 decision鈥�.

It added: 鈥淭he focus of the appeal will, for the most part, concentrate on the background to and determination of the fine. In particular, the fact that the fine is disproportionate when seen in the context of the wider investigation and the other infringements discovered as part of the CMA investigation.

鈥淭he appeal process is expected to take in excess of 12 months and further announcements will be made by the Company as required.鈥�

Keltbray, another firm found not to have been involved in compensation payments, has already said it will be appealing its 拢16m penalty, arguing that its fine is too high as well.

It added: 鈥淜eltbray did not instigate any infringement activity or benefit financially from the infringements, and therefore believes the intended penalty is excessive when compared to Keltbray鈥檚 level of involvement, particularly when compared to the malpractices of other organisations who did benefit financially from their activities.鈥�

As well as Erith, those firms found guilty of making compensation payments were Brown and Mason, Cantillon, McGee and Scudder which has since been discontinued by its parent Careys.

Three directors were also banned following the probe, the CMA added. David Darsey, a former managing director of Erith, who joined the firm in the late 1980s, and is a previous president of the National Federation of Demolition Contractors, has been banned for 5 years and 10 months, Cantillon founder Michael Cantillon has been banned for 7 years and 6 months and Paul Cluskey, since 2014 managing director of Cantillon, has been banned for 4 years and 6 months.

Two other firms involved in the scandal have made public comments on last week鈥檚 news. McGee, fined 拢3.8m, said it considered the matter 鈥渃oncluded鈥� while John F Hunt said this week it would pay its 拢5.6m fine 鈥渁t the earliest opportunity with free cash that had already been set aside鈥�.

The remaining firm involved in bid-rigging was DSM.