Brazil: Watchdog concludes probe into cement sector

Brazilian competition regulator CADE have announced the end of their official probe of the country’s Construction-grade cement market, during which over 18 companies were held under suspicion of alleged violations to free competition.

CADE’s investigators accused the companies of participating in cooperation agreements, whereby they refused to sell three specific types of cement to their competitors belonging to a different group, thus leading to an increase in prices. CADE found major players HOlcim Brasil, CImento Tupy and Votorantim Pimentos to have principal responsibility for establishing and operating this cartel, with the final announcement recommending the imposition of sanctions.

Regarding the remaining companies, lead investigator Paulo Burnier has declared that there is insufficient evidence to recommend sanctions on the majority of companies investigated. However, Mr. Burnier went on to note that several of them have already been fined in other cases of antitrust violations.

Full Content: Global Cement

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