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News Cemex pays fine to Colombian competition body

Cemex pays fine to Colombian competition body

Written by Global Cement staff 08 January 2018
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Colombia: Cemex Colombia has paid a US$25.3m fine to the Superintendent of Industry and Commerce (SIC). The penalty follows an investigation into price fixing by Cemex, Cementos Argos, and Holcim and six senior managers, according to the El Economista newspaper. However Cemex plans to lodge an appeal with the Contentious Administrative Court to reverse the fine.

The fine covers behaviour by the companies between January 2010 and December 2012. SIC’s investigation discovered that collusion between the cement producers artificially increased the price of cement by 30% despite inflation being 9% during the period.

Last modified on 10 January 2018
Published in Global Cement News
Tagged under
  • Colombia
  • Cemex
  • Fine
  • Legal
  • Cemex Colombia
  • Superintendent of Industry and Commerce
  • Holcim Colombia
  • LafargeHolcim
  • Cementos Argos
  • GCW335
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