Colombia to Probe Cemargos for Fixing Cement Prices With Rivals

Cementos Argos SA (CEMARGOS), Colombia’s largest cement maker, faces a probe of allegations it conspired with rivals to fix prices over the past three years, the country’s industry regulator said today.

The Superintendency of Industry and Commerce has opened an investigation of five cement companies including Medellin-based Cemargos for “an alleged agreement to fix prices and divide up the market,” according to an e-mailed statement from the regulator. Colombia has been monitoring “sustained and unjustified” increases in cement prices since 2010, the superintendency said.

Cemex Colombia, a unit of Bogota-based Cemex Latam Holdings SA (CLH), is included in the probe, as are Holcim (Colombia) SA, Cementos Tequendama SAS and Cementos San Marcos SA, according to the statement.

The regulator will examine whether 14 people including Cemargos Chief Executive Officer Jorge Mario Velasquez and Cemex Latam’s Carlos Jacks collaborated, facilitated, authorized or implemented anti-competitive practices, according to the statement.

To contact the reporter on this story: Christine Jenkins in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.