Russia’ Federal Antimonopoly Service has postponed until September 30 the hearing of a case against Eurocement Group alleging it used its market weight to command cement prices in Russia, FAS said.
FAS plans to consider additional materials on the company’ activities, the agency said. The probe was initially prompted by requests from various construction companies in May. Eurocement Group’s clients said then that the company had announced that it was raising prices for cement by 20% but actually increased them by 50%-70%.
Currently, Eurocement Group controls nine cement plants across Russia, mostly in the more populated European part of it. FAS said that the company’ market share exceeds 35%; the estimate was not shared by the company.