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Cemex Fined by Antitrust Agency Over Russia Cement, Reuters Says

Cemex SAB was fined 10.2 million pesos ($800,500) by Mexico’s antitrust agency for anticompetitive practice in the blocking of a 2005 shipment of cement from Russia, Reuters reported, citing the regulator.

Cemex said the decision is unfounded and the company will appeal, Reuters reported, citing the company. A group of competitors tried to import 26,000 tons of the cement, which was cheaper than Cemex’s product, Reuters said.

The ship carrying the cement, the Mary Nour, was held in port for months before being turned away, Reuters said.

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