3 companies accused of fixing cement tube prices in Colombia

Colombia's commerce and industry regulator SIC presented charges against three cement companies for allegedly colluding to fix the prices of cement tubes used on sewers between 2004 and 2014.

The companies that allegedly made up the price cartel were American Pipe, Manufacturas de Cemento (Titán), and Tubox, and now the three risk over 221bn pesos (US$77mn) in fines, with a 71bn peso fine for each one.

The accusation also targets seven current and former managers of the three companies, who risk fines that in total could go up to 10.3bn pesos.

According to the regulator, over the investigated period, the companies sold 250bn pesos worth of cement tubes at Colombia.

Proof cited by the SIC includes statements, emails, meeting calls and digital files that detail how the collusion took place and how the managers agreed to erase traces of their practices. The investigation itself was opened when one of the companies came forward, however it was not specified which one.

The full list of charges can be seen here, in Spanish.