00:00
Money for You
Money for You
USD/RUB
EUR/RUB
Market Quotes

Cemex Challenges European Commission Over Price-Fixing Allegations

A 10% penalty of global annual turnover looms over Cemex, yet the Mexican building-materials giant is pushing back against European regulators. The company formally rejected a preliminary finding from the European Commission alleging that it participated in a construction-chemicals pricing cartel between 2021 and 2022.

Cemex Challenges European Commission Over Price-Fixing Allegations

The Commission’s investigation, which ignited in 2023, targets a group of ten companies and three trade bodies suspected of colluding on the pricing of chemical additives and admixtures. Cemex countered the accusations by noting that its European production of these additives is largely for internal consumption, with only marginal volumes reaching third-party buyers. The group maintains that the existence of an ongoing probe does not equate to a finding of wrongdoing.

Other industry players are caught in the regulatory crosshairs, including Sika and the Saint-Gobain subsidiary Chryso. While Sika has remained silent on the matter, a Saint-Gobain spokesperson reiterated a 2023 stance, stating the group continues to cooperate with investigators and does not anticipate a material financial impact. Cemex intends to submit a formal response to the Commission, though it maintains that any speculation regarding the final outcome or potential fiscal consequences remains premature.

Share

Comments (0)

Leave a comment

No comments yet. Be the first!