Dyckerhoff chief rejects cement price fixing allegations

Dyckerhoff chief rejects cement price fixing allegations
Published: 07 April 2004

Dyckerhoff AG’s chief executive officer Wolfgang Bauer rejected cement price fixing allegations, in an interview with Wirtschaftswoche news magazine.  Dyckerhoff was among the companies raided by the German cartel office last month amid allegations of cement price fixing.  ’No, everything is above board with us,’ Bauer told the magazine. ’The search made absolutely no sense and was unnecessary.’  Following a price war that pushed prices down in Germany’s cement market, they rose in late 2003 and early 2004. The cartel office is investigating whether the price hikes were carried out by Dyckerhoff in concert with competitors Holcim, HeidelbergCement and Lafarge.  Dyckerhoff, which is majority owned by Buzzi Unicem SpA, is not considering making a buy-back offer to its shareholders, Bauer told Wirtschaftswoche.