Order of Competition Commission of India against Indian cement companies

06.21.2012
 

On June 21, the Competition Commission of India (CCI) has published an order including fines against several Indian cement companies. This also applies to the Group companies ACC and Ambuja Cements (ACL), which have been fined approximately 194 million CHF (11,5 billion INR) and approximately 196 million CHF (11,6 billion INR) respectively. The order relates to the competition law proceedings started in 2010 which aimed at investigating the conduct of several of the leading cement producers in India.

In the context of the investigation, ACC and ACL have delivered all information and clarification requested by the authorities. However, each of ACC and ACL contest the allegations and findings against them in the CCI's order and will pursue all available legal steps to defend their respective position.

In 2003, the Board of Directors and the Executive Committee of Holcim Ltd have decreed a Code of Conduct binding for all Group companies and its employees. The Code of Conduct provides for respect for principles and rules of fair competition prohibiting anti-competitive behavior and the abuse of a dominant market position. Non-compliance may be subject to disciplinary sanctions including termination of employment. To implement and embed these principles, Holcim has a dedicated global fair competition directive and a centrally coordinated training program. In addition, Group companies are regularly reviewed in this respect by independent attorneys. The Code of Conduct is available on the Holcim Website.


Code of Conduct

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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 holds majority and minority interests in around 70 countries on all continents.

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