Colombia's regulator investigates price fixing

Colombia's regulator investigates price fixing

Colombia's Superintendency of Industry and Commerce will be opening an investigation into the alleged price-fixing by five local cement companies. The regulator will examine whether Holcim (Colombia), Cementos Argos, Cementos Tequendama, Cemex Colombia and Cementos Marcos have been colluding in the setting of cement prices over the past three years.

The regulator has said it will look into "an alleged agreement to fix prices and divide up the market”. The superintendency has claimed that "Colombia has been monitoring 'sustained and unjustified' increases in cement prices since 2010."

Some 14 industry leaders will be investigated for anti-competitive practices, including Carlos Jacks, CEO of Cemex Latin America, and Jorge Mario, CEO of Cementos Argos.