Business & Finance

Reuters reveals how Holcim units and other Indian cement firms fixed prices

05 August 2022, 2:19 pm 1 minute

Reuters exclusively revealed Swiss giant Holcim’s India units and more than a dozen other cement manufacturers colluded to raise prices and restrict supplies for years, which included regularly inspecting one another to ensure there was no breach of the agreements. The investigations arm of the Competition Commission of India (CCI) has held top leadership — CEOs or Managing Directors — of Holcim units ACC and Ambuja, market leader UltraTech and 17 other firms such as Shree Cement and Dalmia Cement liable for antitrust violations.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Countries: India

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Customer Impact: Significant National Story

A view shows Ambuja Cement bags, to be carried to a construction site, in a load carrier in Ahmedabad, India, July 29, 2022. REUTERS/Amit Dave

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