FAS filed a case against the largest cement factories in southern Russia
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The Federal Antimonopoly Service (FAS) opened a case against the Verkhnebakansky Cement Plant and Novoroscement, members of the Gazmetallproekt group, due to an unreasonable increase in prices. About it reported press service of the department.
After analyzing the company’s activities, it turned out that the prices they set in the first half of 2023 exceeded the amount of necessary expenses and profits for production and sales. If the guilt is established, the producers face a turnover fine, the FAS said in a statement.
FAS also found that the cement production market is highly concentrated, and access to it requires significant time and financial costs.
Gazmetallproekt is the largest cement producer in the Southern and North Caucasus Federal Districts and has a dominant position in the market.
September 29 Ministry of Industry and Trade of Russia sent a request to the FAS to issue instructions to valve manufacturers regarding unreasonable price increases. Quotes from factories for shipments for October increased by 14.5%. This may affect prices for end consumers. At the same time, there are no objective reasons for increasing quotes.
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