Order of the Brazilian competition authorities against cement companies
The Administrative Council for Economic Defense (CADE) has ruled an order including fines against several Brazilian cement companies, including Holcim (Brasil) S.A. ("Holcim Brazil").
On May 28, the Administrative Council for Economic Defense (CADE) has ruled an order including fines against several Brazilian cement companies. This also applies to the Group Company Holcim (Brasil) S.A. ("Holcim Brazil"), which has been fined BRL 508 million (approximately CHF 204 million). The order relates to the competition law proceedings started in 2006 which aimed at investigating the conduct of several of the leading cement producers in Brazil.
In the context of the proceeding, Holcim Brazil has always supplied all information requested. The company reinforces that it acts lawfully and in accordance with fair competition rules and practices. Holcim Brazil will pursue all available legal steps to defend its position.
Holcim acts in compliance with laws, including fair competition rules and practices. The company has policies and procedures in place that are designed to ensure compliance with principles and rules of fair competition prohibiting anti-competitive behavior and the abuse of a dominant market position. There is zero tolerance for violations. Non-compliance is subject to disciplinary sanctions up to termination of employment.
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Holcim is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel and sand), as well as further activities such as ready-mix concrete and asphalt including services. The Group has majority and minority holdings in around 70 countries across all continents.
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