Colombia fines cement transnationals $66 million for fixing prices

Colombia on Tuesday fined cement companies Cementos Argos, Cemex and Holcim, along with some of its managers, more than $66 million for fixing prices.

The companies, which represent 96 percent of Colombia's cement market, allegedly agreed to set prices between January 2010 and December 2012, during which time cement prices increased 29.9 percent while inflation was only 9.3 percent.

Source: Reuters