FOR IMMEDIATE RELEASE                                                    AT
THURSDAY, SEPTEMBER 8, 1994                                  (202) 514-2007
                                                         TDD (202) 514-1888

                                     

                 CORPORATION CHARGED WITH RIGGING BIDS FOR
                 A NEW JERSEY BUILDING RESTORATION PROJECT

   WASHINGTON, D.C. -- The Department of Justice's Antitrust
Division today charged a New York company with conspiring to rig
bids on a building restoration project in Newark, New Jersey.  
   The Department charged that Coastal Waterproofing and
Restoration Corp. of the Bronx, New York, participated in the
conspiracy between 1988 and October 1989, a violation of Section
1 of the Sherman Act. 
   Anne K. Bingaman, Assistant Attorney General in charge of the
Antitrust Division, said the charges filed in the U.S. District
Court in Manhattan arose in connection with a grand jury
investigation in New York City into collusive practices by
roofing, waterproofing and building restoration contractors.
   According to the Division's New York field office, which
conducted the investigation, Coastal and its co-conspirators
submitted collusive, noncompetitive and rigged bids for the job
at 520 Broad Street.
   The maximum penalty for a corporation convicted of a Sherman
Act violation occurring prior to November 16, 1990, is a fine
that is not to exceed the greatest of $1 million, twice the gross
pecuniary gain the defendant derived from the crime or twice the
gross pecuniary loss caused to the victims of the crime.
                                   #####
94-506