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.
A report contemplating the sale of asphalt from a Regina City, Saskatchewan, Canada, owned plant spawned heightened concern from industry members. More
The increase in cement consumption will bring US cement volume to 86.1 million tons this year, 93.3 million tons in 2015 and 103.2 million tons in 2016. More