A PYMNTS Company

Colombia: Formal price-fixing probe set in stone for cement giants

By  |  August 22, 2013

The largest cement company in Colombia was accused of colluding to fix prices for the last three years, according to the nation’s Superintendency of Industry and Commerce. Cementos Argos, along with four other companies, is now under formal investigation by the watchdog, for forming an “agreement to fix prices and divide up the market,” according to the Superintendency. The cement market has been under watch for price manipulation since 2010, according to reports. Other companies named in the investigation include Cemex Colombia, Holcim, Cementos Tequendama and Cementos San Marcos. The regulator issued an emailed statement regarding the matter.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.