Cement News tagged under: price fixing

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Romania's Competition Council launches cement market investigation

25 October 2018, Published under Cement News

Romania's Competition Council (RCC) is investigating possible anti-competitive practices between the three domestic market cement producers – Holcim Romania, CRH Ciment Romania and HeidelbergCement Romania. It is reported in the Romania Insider that the three companies are suspected of having split the local market in terms of market shares, product offer, production sales levels, technical development and investments. The investigation will also look at possible price-fixing starting from ...

Colombia’s State Council ratifies Holcim pricing sanction

25 June 2018, Published under Cement News

Following Colombia’s State Council confirmation of a million-dollar sanction imposed by the Superintendency of Industry and Commerce against Cemex Colombia, the country’s High Court confirmed the fine of COP923m to Holcim Colombia SA. The fine was first imposed in 2008 but Holcim Colombia had appealed. The State Council said that there are indications about the existence of market share agreements and allocation of production quotas between the companies Holcim Colombia SA, Cemex Colombia...

Cemex Colombia to pay SIC fine, object via litigation

08 January 2018, Published under Cement News

Cemex Colombia announced that it proceeds to pay the value of the fine imposed by the country's Superintendency of Industry and Commerce (SIC) in September 2013, amounting to the sum of US$25.3m. The investigation is in line with Resolution 81391 of 11 December 2017 which saw the SIC fine Cemex Colombia, along with Cementos Argos and Holcim Colombia) and to six individuals for price fixing of grey cement in the national market. The company decided not to file an appeal for reversal ag...

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, Cemex and Holcim fined COP200bn

13 December 2017, Published under Cement News

Colombia has fined Cementos Argos, Cemex and Holcim over COP200bn (US$66m) for fixing prices, according to Reuters. The fine has been applied to the companies and some of its managers. In total, the companies represent 96 per cent of Colombia’s cement market and allegedly agreed to set prices between January 2010 and December 2012. Cement prices in this period increased 29.9 per cent whilst inflation was just 9.3 per cent. Holcim released a statement protesting the fine applied by the ...

Cemex, Holcim, Cementos Argos face cartel allegations in Colombia

16 October 2017, Published under Cement News

Cemex, Holcim and Cementos Argos have 20 days to respond to allegations of cartelisation in the Colombia’s cement market. If the evidence against the companies is found conclusive, they could be subject to fines of up to COP70bn (US$23.9m) per infraction. The investigation started in August 2013 when the Superintendency of Industry and Commerce (SIC) opened an investigation and formulated a statement of objections against Cementos Argos, Cemex, Holcim, Cementos Tequendama, Cementos San Ma...

India: Binani Compat appeal dismissed

18 January 2017, Published under Cement News

India’s Competition Appelate Tribunal (Compat) has dismissed the appeal of Binani Cement seeking waiver of the direction to deposit with it 10 per cent of the total penalty amount which was imposed by Competition Commission in a cartelisation case. "Binani Cement has failed to substantiate its claim for review of our order dated November 28, 2016," Compat said. “[Binani Cement has] neither presented any fresh compelling or significant circumstances to justify review of our order nor point...

Indian cement producers to appeal CCI fines

02 September 2016, Published under Cement News

LafargeHolcim, India Cements and Ramco Cements have said that they will appeal against yesterday’s ruling by the Competition Commission of India (CCI) which levied fines totalling INR67bn (US$1bn) against 11 firms, the Press Trust of India reports. Four of the other affected companies – UltraTech, Shree Cement, Jaiprakash Associates and JK Cement – have said they will seek legal advice and may subsequently submit appeals of their own. LafargeHolcim has said it believes it has a strong ...

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...

Brazil: future secured?

11 May 2015, Published under Cement News

The expansion of Brazil’s cement production base continues unabated despite storm clouds gathering on the economic horizon. However, this Latin American giant still requires the construction of infrastructure and housing to support its national development and the future of the cement industry appears guaranteed. Cimento Portland Partipações (CPP) has plans for four new cement plants. Pictured is the São Luis works, completed in November 2014 by FLSmidth. CPP is now preparing the e...