Cement News tagged under: Cartel

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CCP finds evidence of cartelisation in Pakistan

16 December 2020, Published under Cement News

The Competition Commission of Pakistan (CCP) has finalised an inquiry report that shows evidence of cartelisation by the cement sector, reports Dawn. The inquiry report was finalised for All Pakistan Cement Manufacturers Association (APCMA) members in the northern region of the country, as the Sindh High Court had restrained the CCP from using material collected from cement companies in the south zone (Sindh). Cement prices increased by up to INR50/bag in May, June and August 2020, accor...

Competition Commission of India imposes US$944m fine for cartelisation

01 September 2016, Published under Cement News

The Competition Commission of India (CCI) has levied a fine of INR63.2bn (US$944m) on 10 cement companies whom it accuses of conspiring to fix prices in contravention of competition law. In addition, the Cement Manufacturers Association has been ordered to pay a INR7.3m fine. Of the 10 companies, four – Jaiprakash Associates, UltraTech, Ambuja Cements and ACC – will bear the brunt of the penalties, accounting for 76 per cent of the total fine. The other firms fined today are Lafarge, Cent...

Court annuls information request by EC into cement company competition probe

14 March 2016, Published under Cement News

The European Court of Justice has annulled a request for information the European Commission had made to several cement makers in a cartel probe. The European Commission in 2010 opened an investigation into several cement makers – including HeidelbergCement, Holcim and Lafarge – saying it suspected the companies of possibly restricting imports into the EU, divvying up markets and coordinating prices. A year later, the commission sent lengthy questionnaires to the companies, requesting...

European Commission closes antitrust proceedings

03 August 2015, Published under Cement News

European Union antitrust regulators on Friday scrapped a cartel investigation launched on 8 December 2010 against a number of cement producers with operations in Europe including Lafarge, Cemex and HeidelbergCement after failing to find evidence of a cartel. The European Commission (EC) opened the case with dawn raids in November 2008 and September 2009. It concerned anti-competitive practices in Austria, Belgium, the Czech Republic, France, Germany, Italy, Luxembourg, The Netherlands, ...

Spanish regulator expands cartel probe

10 June 2015, Published under Cement News

Spanish competition watchdog, CNMC, has expanded its probe into concrete and cement producers on alleged cartel agreements. The regulator carried out inspections at the headquarters of concrete and cement makers on 27 and 28 May as part of the probe on 14 sector players, the CNMC said in a statement. The regulator said it has 18 months to decide whether it will impose a fine on the companies and reminded that the investigation on potential cartel agreements is among its priorities, econo...

Cementos Argos

26 March 2015, Published under Cement News

Findings from an investigation into alleged antitrust behaviour by Cementos Argos are due by mid-2015, according to Colombia’s Superintendency of Industry and Commerce (SIC). The findings will conclude an eight-year investigation into possible cartel-like practices by not only Argos but also the local subsidiaries of Cemex and Holcim. Claims that the companies colluded to inflate cement prices in the country date back as far as 2010.  The SIC also plans to present a bill in March this ...

India: CCI closes cement case

25 November 2014, Published under Cement News

The Competition Commission of India (CCI) has closed a case of alleged cartelisation among cement companies due to a lack of evidence. An anonymous reference before the CCI had alleged that 11 cement companies increased prices by INR75/bag (US$1.21/bag) within a month. In its order, the CCI noted that the reference states that the price increased from INR230-250 to INR300-330/bag after the general elections in Andhra Pradesh. The order didn't specify the exact period over which the price...

Spanish watchdog initiates preliminary inspection

25 September 2014, Published under Cement News

The Spanish competition watchdog Comisión Nacional de los Mercados y de la Competencia (CNMC) has carried out inspections at the headquarters of companies that produce cement, concrete and their derivatives. The preliminary inspections were carried out over 16-18 September 2014 for alleged anti-competitive practices. Should suspicions be confirmed, the regulator will open disciplinary proceedings, which could result in fines amounting to 10 per cent of the companies' turnover.

Fitch: ratings unchanged for Votorantim

02 June 2014, Published under Cement News

According to Fitch Ratings, the recent decision by Brazil's antitrust agency, CADE, to stiffen the penalties against Brazilian cement companies allegedly engaged in price collusion presents a significant challenge to Votorantim Cimentos (VCSA), but it will not result in a negative action to its 'BBB' rating. VCSA's Rating Outlook was affirmed by Fitch at Negative on April 8, 2014. This rating action took into consideration the possibility of a negative ruling by CADE. All six of the cemen...

Brazil’s CADE fines six cement companies US$1.4bn for price-fixing

29 May 2014, Published under Cement News

Brazil’s antimonopoly authority CAD has fined six cement companies a total fine of BRL3.1bn (US$1.4bn) for fixing market prices. Votorantim Cimentos SA , Camargo Correa-owned Intercement Brasil, ITAB Agro Industrial SA and Cia Cements Itambé SA, Holcim and Cimpor agreed to fix prices to eliminate market competitors, said CADE in a10-hour hearing.  Votorantim has been ordered to pay BRL1.5bn, Holcim BRL508m, Itabira BRL411m, Cimpor BRL297m and Intercement Brasil BRL241m. CADE has also ...