Cement Company Sanctioned

Holcim S.A. in El Salvador was sanctioned for "having failed in its duty of collaboration to provide the information and documentation required to the Superintendence of Competition."

Thursday, February 28, 2019

From the Superintendence of Competition statement:

February 27, 2019. The Board of Directors of the Superintendence of Competition (CDSC) sanctioned Holcim S.A. de C.V. with a US$82,125.90 fine for failing to provide the information and documentation required by this Superintendence, within the framework of the study "Competition in the provision of goods and services for construction: cement, asphalt inputs and heavy machinery."

The fine was imposed based on the provisions of the Competition Law in Article 38, paragraph 6, for an amount "of up to ten monthly urban minimum wages in the industry for each day of delay to persons who, deliberately or negligently, do not provide the required cooperation or who do so incompletely or inaccurately. For this specific case, the required information was provided incompletely by Holcim to the SC, after requesting four extensions of the deadline for its submission.

Read full statement (In Spanish).

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