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.
Aditya Birla Group has placed bids for the Brazilian and Philippine cement assets that global giants Holcim and Lafarge are planning to sell ahead of their merger in order to comply with anti-competition rules, reports the Times of India. More
Houston-based Halliburton, the oil field service company with the largest US fleet of hydraulic fracturing equipment, posted a 70% boost in profit in the third quarter, the company reported Monday. More