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.
International Finance Corporation, a member of the World Bank Group, is providing up to $70 million to Kenya's National Cement Company to increase the local supply of cement and promote infrastructure development in Africa More
Poor maintenance of a lift door led to a fatal accident at Kosmos Cement Co, a surface cement facility, owned and operated by Cemex, located in Louisville, Jefferson County, Kentucky