According to a report on Reuters.com, Mexico’s competition watchdog, known as Cofeco, fined cement giant Cemex 10.2 million pesos (US$800,500) for anticompetitive practices in a 2005 dispute regarding the company blocking a shipment of cheap Russian-made cement from entering the country. A rival group tried to import 26,000 tons of the Russian cement into Mexico, but the “Mary Nour” vessel was held up for months at a Mexican port and eventually turned away in 2005 after being blocked by Cemex.
The rival group brought a claim against Cemex in 2006, but the fine was only published by Cofeco this month; Cemex said it would appeal the decision. “Cemex was notified of the commission’s resolution about presumed monopolistic practices. We think the resolution is unfounded,” said the company.