Cemex fined for anti-competitive practices

Mexico’s competition watchdog has fined cement giant Cemex MXN10.2m (US$800,500) for anti-competitive practices in a 2005 dispute when the company blocked a shipment of cheap Russian-made cement from entering the country.

The competitor tried to import 26,000t of lower-priced Russian cement into Mexico, but the “Mary Nour” vessel was held up for months at a Mexican port and eventually turned away in 2005 after being blocked by Cemex.
 
The rival group brought a claim against Cemex in 2006, but the fine was only published by the competition regulator Cofeco on Monday. Cemex said it would appeal.

“Cemex was notified of the commission’s resolution about presumed monopolistic practices. We think the resolution is unfounded,” the company told Reuters.