Cemex to appeal fine, Mexico

Cemex to appeal fine, Mexico
Published: 24 February 2012

Tagged Under: Cemex Mexico Trading 

Cemex CEO Lorenzo Zambrano has reiterated that the company will appeal a fine for allegedly blocking competitors from bringing cement into Mexico, the Wall Street Journal reports.

Earlier this month, the Federal Competition Commission (CFC) fined Cemex MXP10.2m (US$796,000) following an investigation into a failed attempt by a competitor to import cement via a silo ship almost eight years ago.

The newspaper quoted Zambrano as saying: “We’ve done nothing illegal.” He said Cemex used legal measures to combat: “What I personally consider was going to be contraband” and charged the CFC with having an “attitude of vengeance” which Cemex has suffered for some time.

The antitrust investigation followed a complaint by Comercio para el Desarrollo Mexicano (CDM) that was blocked from importing cement from Russia in 2004 and was kept from unloading the shipment. The commission voted 4-1 to fine Cemex, for what it said was a boycott.

“They didn’t prove anything but imposed the fine,” Zambrano continued. “We’re going to appeal and we’re going to win,” he added.