Case Description
Prior to 1974 the four largest sellers of ready-mix concrete in New York and the surrounding four counties were in direct competition. Those companies were Colonial, IIJ/Certified Industries, Transit-Mix and Ryan. In 1974 Transit-Mix acquired Ryan’s ready-mix concrete business by purchasing Ryan’s backlog of executory contracts and by purchasing/leasing the equipment Ryan used in the ready-mix business. In 1976 Transit-Mix acquired Colonial’s ready-mix concrete business through similar means. Both Ryan and Colonial ceased ready-mix concrete production. From 1976 to 1981 Transit-Mix and IIJ/Certified Industries were the two largest sellers of ready-mix concrete in New York and the surrounding four counties. Big Apple was the only other company producing and selling ready-mix concrete in the area. In 1981 defendant Halloran used Certified/Marine to acquire IIJ/Certified Industries. Halloran then caused Transit-Mix to take out a loan to pay IIJ/Certified Industries on behalf of Certified/Marine. Halloran guaranteed the loan. During this period, Halloran was also in the process of acquiring Big Apple’s ready-mix concrete business. The only two competitors in ready-mix concrete still standing were Certified/Marine and Transit Mix. Both companies were controlled by Halloran. These acquisitions eliminated the remaining competition in this market. The case was settled by consent decree as to Marine Pollution Service, Inc., Certified Concrete Co., Transit-Mix Concrete Corp., Quad Acquisition Corp., Red Hook Concrete Loading Corp., Maspeth Concrete Loading Corp., Edgewater Concrete Loading Corp., Masbeth Truck Depot Corp., Manhattan West Concrete Loading Corp., and Harlem Concrete Loading Corp. Claims against Edward Halloran, Nicholas Auletta, S&A Concrete Co. Inc., the Dic Underhill defendants and the Big Apple defendants were no longer pursued because the market harm had been cured.
