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Cartels in the cement industry

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Ellen Stewart

on 23 September 2013

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Transcript of Cartels in the cement industry

Celtic Resources Holdings plc (CRH) was formed from two leading Irish companies, Cement Limited and Roadstone Limited.

Other major producers are:
Lafarge Holcim Cemex CNBM HeidelbergCement

Cartels in the cement industry
CRH and other cement companies
The accusations...
The consequences...
From almost all accusations that have been made, CRH has been forced to pay heavy fines for creating a cartel or other offences.

€530,000 fine for interfering with Polish officials gathering evidence for a price-fixing investigation

€26 million fine for price fixing and market sharing between a group of 7 companies.
Cement as a product
Cement is made out of lime, sand and gravel. It was first used by the Ancient Egyptians and later used by the Romans to create baths and Roman Aqueducts.

The raw materials needed and the bulky nature of cement limit the market for production of cement to a few geographical locations. Also, cement has no real substitutes, therefore the suppliers have greater power over prices and market share, giving the right conditions for the formation of cartels.
Unfortunately, CRH have been accused many times of committing restrictive business practices both in the EU and USA since 1994.
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