Russia: Cement producer in Crimea unreasonably increases prices

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Updated Thu, 29 Jan 2015 11:32:00 GMT

The Federal Antimonopoly Service (FAS) has found that the 'Stroiindoustria' Bakhchisaray cement plant in the Crimea violated antimonopoly law by 'unreasonably' raising prices of cement. In April – May 2014 Bakhchisaray increased prices for its different product brands by an average of 45%. FAS established that the company had the dominant position on the cement market in the Crimea Federal District.

Completing the investigation, the antimonopoly body did not reveal any economic, technological or other justifications for the increased prices of the company products. The case against Bakhchisaray was initiated following an inspection of the largest producers of construction materials in the Crimea Federal District to verify whether prices complied with the antimonopoly law.