North / South America
Cemex fined by Antitrust agency over Russia Cement
Feb, 15 2012
(Mexico) -- Cemex SAB was fined 10.2 million pesos ($800,500) by Mexico’s antitrust agency for anticompetitive practice in the blocking of a 2005 shipment of cement from Russia, it's been reported, citing the regulator.
Cemex said the decision is unfounded and the company will appeal, Reuters reported, citing the company. A group of competitors tried to import 26,000 tons of the cement, which was cheaper than Cemex’s product, it's been reported.
The ship carrying the cement, the Mary Nour, was held in port for months before being turned away, Reuters said.
India: UltraTech Cement, part of the Aditya Birla Group, has announced that its net profit declined year-on-year by 19% to US$351m in 2013-2014. This marks the company's first fall in profit for five years and was attributed to rising input costs and sluggish sales. More
The UK’s Prime Minister, David Cameron, and the Chancellor of the Exchequer, George Osborne, visited a transport infrastructure project this week where they outlined upcoming infrastructure investment. More