Holcim (Brasil) S.A. among several cement firms to be fined by Brazilian competition authorities
ON May 28, the Administrative Council for Economic Defense (CADE) ruled an order imposing fines against several Brazilian cement companies, including Holcim (Brasil) S.A., who have been fined BRL508 million (approximately CHF204 million).
The order relates to the competition law proceedings started in 2006 to investigate the conduct of several of the leading cement producers in Brazil.
Holcim Group stress that they act lawfully and in accordance with fair competition rules and practices, and say Holcim (Brasil) S.A. will pursue all available legal steps to defend their position.
In a statement, Holcim said the company has policies and procedures in place that are designed to ensure compliance with principles and rules of fair competition prohibiting anti-competitive behaviour and the abuse of a dominant market position.
It added that the company has zero tolerance for violations, with non-compliance subject to disciplinary sanctions up to termination of employment.