VS Holding Co., Price-Fixing Conspiracy, Iowa 2011

VS Holding Co., a producer of ready-mix concrete with headquarters in Orange City, Iowa, pleaded guilty today to participating in a price-fixing conspiracy for the sales of ready-mix concrete in the northern district of Iowa.

According to a one-count felony charge filed on June 24, 2011, in U.S. District Court in Sioux City, Iowa, VS Holding Co. participated in a conspiracy with another ready-mix concrete company to fix prices for ready-mix concrete sold in the northern district of Iowa.

The department said the company participated in the conspiracy beginning at least as early as January 2006 and continuing until as late as January 2008.

Ready-mix concrete is a product comprised of cement, aggregate (sand and gravel), water and other additives. The concrete generally is produced in a concrete plant and is transported by concrete-mixer trucks to work sites, where it is used in various types of construction projects, including buildings and roads.

According to the court documents, Steven VandeBrake, the former president of VS Holding Co., participated in the conspiracy by engaging in discussions and reaching agreements regarding the conspirators’ prices for ready-mix concrete sold in the northern district of Iowa.

VS Holding Co. is charged with violating the Sherman Act, which carries a maximum fine of $100 million for corporations. The maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either of those amounts is greater than the statutory maximum fine.

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