Cementos Argos - April 2018

Cementos Argos is facing a fine of COP73,771m (US$1.35m) for price cartelisation between 2010-12. The fine, that has been imposed by the Colombian Superintendent of Industry and Commerce (SIC), is equal to the fine paid by Cemex Colombia at the start of the year for its part in the cartel. A third company, Holcim Colombia, has been ordered to pay COP54,074m. 

“We do not share the sense of the decision and we reject it emphatically. Relying on the objectivity, responsibility and proper functioning of the institutions, we will file an action for nullity and reinstatement of the right before the Contentious Administrative Tribunal in order that said entity assess the solid arguments presented by Argos and proceed in law with the nullity of the resolution of the SIC,” said Cementos Argos, after indicating that it would pay the fine before the end of April.

 Cemex Colombia paid the fine on 4 January this year but did not lodge an appeal.