Displaying items by tag: Superintendent of Industry and Commerce

Colombia: Cementos Argos has lost a trademark dispute over its Luz Verde brand. The Superintendent of Industry and Commerce (SIC) has authorised wholesale travel agent Luz Verde Representaciones to register its Luz Verde brand despite the objections of the cement producer, according to La República newspaper. SIC considered the opposition of Cementos Argos invalid as the companies operate in different business sectors. The company had previously lost another legal conflict with Energy Evolution Colombia for the registration of a motto including the element Luz Verde.

Colombia: The Council of State has confirmed a US$0.31m fine to Holcim Colombia imposed by the Superintendent of Industry and Commerce (SIC) for fixing the price of cement. The ruling follows a similar confirmation of a fine to Cemex. The court found that an agreement between Cemex Colombia, Holcim Colombia and Cementos Argos distorted the price, supply and sales of Ordinary Portland Cement in the second half of 2005.

Colombia: The Council of State has confirmed a fine to Cemex imposed by the Superintendent of Industry and Commerce (SIC) for fixing the price of cement. The ruling found that an agreement between Cemex Colombia, Holcim Colombia and Cementos Argos distorted the price, supply and sales of Ordinary Portland Cement in the second half of 2005. In particular the tribunal found that the way in which Argos gave information about Cementos Andino’s involvement in the national market to Cemex and Holcim was be anti-competitive.

Colombia: The Superintendent of Industry and Commerce (SIC) has confirmed a US$73.5m fine issued against six top executives and cement companies for alleged market collusion. SIC says that Cementos Argos, Cemex and Holcim failed to provide an economically reasonable explanation for similar pricing, according to the El Colombiano newspaper. Cemex has accepted the decision and not filed an appeal. Cementos Argos and Holcim will take the case to the Dispute Tribunal.

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.