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News Colombian Superintendent of Industry and Commerce reports evidence of price collusion

Colombian Superintendent of Industry and Commerce reports evidence of price collusion

Written by Global Cement staff 17 October 2017
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Colombia: The Superintendent of Industry and Commerce (SIC) says that it has found evidence of price collusion from 2010 to 2012 between Cementos Argos, Holcim and Cemex. A report by SIC alleges that the three companies raised the price of Ordinary Portland Cement (OPC) in a coordinated manner, according to the El Espectador newspaper. The producers have been given a time to respond to the allegations and they could face fines of up to US$8m each by the end of 2017.

However, the cement producers have denied the allegations and criticised SIC’s methods. In a response, Cementos Argos described SIC’s analysis of cement prices over a 36-month period as ‘ not appropriate.’ It also pointed out that the regulator had assumed a stable market share between competitors and that its own share had changed between 2007 and 2017.

Last modified on 18 October 2017
Published in Global Cement News
Tagged under
  • Colombia
  • Superintendent of Industry and Commerce
  • Competition
  • Investigation
  • Cementos Argos
  • Holcim Colombia
  • LafargeHolcim
  • Cemex Colombia
  • Cemex
  • GCW324

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