How Holcim units, other cement firms fixed prices: Antitrust probe

Cement production is a lucrative business in India's booming economy, with high demand especially from rural housing and infrastructure firms

Swiss giant Holcim's India units and more than a dozen other cement manufacturers colluded to raise prices and restrict supplies for years, which included regularly inspecting one another to ensure there was no breach of the agreements, according to a federal antitrust probe.

The investigations arm of the Competition Commission of India (CCI) has held top leadership - CEOs or Managing Directors - of Holcim units ACC and Ambuja, market leader UltraTech and 17 other firms such as Shree Cement and Dalmia Cement liable for antitrust violations.

The investigation report, issued last month and seen by Reuters, is the penultimate but most