The Commission for Protection of Competition (CPC) has launched a probe into the Bulgarian cement industry association over suspicions that its members have agreed on prices and market behaviour thus harming competition.
The organisation groups the three cement heavyweights. These are Italcementi’s Devnya Cement, Holcim Bulgaria and Titan Zlatna Panega.
The association denied the accusations saying it had never discussed at its regular meetings prices and sale quantities of its members.
On June 26, the competition authority searched the association office and seized documents that are yet to be reviewed. If proved guilty of hurting market competition, the organisation would be fined up to BGN150,000 (US$108,000). Smaller breaches would result in fines of up to BGN50,000 and BGN100,000.