Cement News tagged under: cartelisation

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Calls for higher cement prices in Sarawak to be investigated

24 June 2019, Published under Cement News

Malaysia’s Ministry of Finance has called for an investigation to determine whether monopolistic practises by the local cement industry in Sarawak is the cause of high cement prices in the state. "Cement is a basic building material and a drastic price increase will inevitably feed into the economy negatively, and eventually hurt consumers. At the same time, cement prices in Sarawak that are markedly higher than in Peninsular Malaysia should be further examined to determine whether it is ...

PPC

31 January 2019, Published under Cement News

This month has seen South Africa’s Competition Tribunal once again turn its attention to alleged cartel activity in the cement industry. The Competition Commission previously argued in 2008 that PPC, AfriSam, Lafarge and Natal Portland Cement (NPC) were involved in a market-sharing arrangement in the late 1990s. PPC was granted conditional immunity from prosecution in exchange for complete disclosure of all cartel activity between itself and its competitors. AfriSam and Lafarge paid fines...

Cementos Argos

26 April 2018, Published under Cement News

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 fun...

Colombia: SIC confirms cartelisation sanctions

24 April 2018, Published under Cement News

The Colombian Superintendent of Industry and Commerce (SIC) has ratified sanctions imposed in December on Argos, Holcim Colombia and Cemex Colombia, for price cartelisation between 2010-12. The three cement producers have been fined a combined COP201,616m (US$71.7m). Cementos Argos will have to pay a fine of COP73,771m, the same sum already paid by Cemex at the start of this year. Holcim’s fine amounts to COP54,074m. Following an indication that they will pay the fine in the next few d...

KFTC fines 26 manufacturers for cartelisation

16 April 2018, Published under Cement News

The Korea Fair Trade Commission (KFTC) has announced that it levied KRW15.37bn (US$14.64m) of fines on 26 cement manufacturers for cartelisation activities, according to Korea JoongAng Daily. The KFTC stated that the manufacturers had colluded to set the prices of ready-mix concrete provided to smaller construction firms between 2009-16. As a result, the prices of the construction material have been on the rise, according to the watchdog. The KFTC has referred the 26 companies to state p...

CCI finds six companies have formed a cartel

14 February 2018, Published under Cement News

In a preliminary investigation, the Competition Commission of India (CCI) has found that six cement companies have formed a cartel. Although this enquiry focussed on the northeast region it will widen to other locations, reports the Business Standard. "In fresh investigations, six large cement manufacturing firms have been found to be forming a cartel," said a source close to the development. In 2016, 11 companies and the Cement Manufacturers Association were issued a total penalty of ...

Nepal cement manufacturers ordered to decrease prices

23 January 2018, Published under Cement News

The government of Nepal has directed cement companies to decrease the price of cement within three days, reports myRepública. This follows a price hike of 10-16 per cent in some regions, while factory input cost has only increased 7-9 per cent. "This is the case of the artificial price hike. That is why we have asked cement manufacturers to roll back the price hike decision within three days," said Laxman Shrestha, director, Department of Supply Management and Protection of Consumers Inter...

Cement prices rise in Nepal

12 January 2018, Published under Cement News

The price of cement in Hetauda, Bhairahawa and Biratnagar has risen by up to NPR160 (US$1.56)/bag, according to The Kathmandu Post. Cement producers claim this to be the result of the higher cost of raw materials such as clinker, gypsum and fly ash. However, some consumers have alleged that the price hike is artificial and cartelisation is to blame. "Manufacturers collude with each other to hike prices while consumers regard recent price increases as a black market. We demand that this pr...

Builders' Association of India seeks cement regulator

08 January 2018, Published under Cement News

To secure the smooth expansion of India's construction sector, the Builders' Association of India (BAI) highlighted the need for creating a cement regulator. Subcontractors in the construction sector are still levied a general sales tax (GST) of 18 per cent, according to the BAI, who emphasised the need to reduce the tax. The establishment of a cement regulatory authority will help control pricing and prevent cartelisation by cement producers, said B Seenaiah, BAI chief patron. “Th...

Cementos Argos

18 December 2017, Published under Cement News

Cementos Argos, along with Cemex and Holcim, is facing fines in excess of US$66m for alleged price fixing. Colombia’s trade and industry regulator believes the three companies, which together represent 96 per cent of the country’s cement market, set prices between January 2010 and December 2012. During this period, cement prices rose by almost 30 per cent against inflation of just 9.3 per cent. “Argos, Cemex and Holcim did not offer an economically reasonable or truthful explanation that ...