Italcementi notified of €84 million fine decision

Company to appeal Italian Competition Authority decision over alleged market co-ordination

ITALCEMENTI SpA, HeidelbergCement’s Italian subsidiary, are to appeal against a decision to fine them €84 million over alleged market co-ordination.

The company has received notification from the Italian Competition Authority that it is to receive the fine following an antitrust investigation mainly relating to alleged market co-ordination in the Italian grey cement markets, including concerted price increases.

The alleged infringements relate to the period from June 2011 until January 2016, before HeidelbergCement Group acquired the company.

As a precautionary move, HeidelbergCement have informed the former controlling shareholder of Italcementi, as the acquisition share purchase agreement includes customary protection against such risks.

Italcementi say they will lodge an appeal against the Authority’s decision and the relevant fine, as they believe that the alleged charges are unfounded both in fact and in law, and are convinced that they have acted in full compliance with antitrust legislation.