The Romanian Competition Office has launched a new investigation into the operations of cement producers, namely the economic concentration occurred after the takeover of harbour operator Sicim SA Constanta by Silotrade SA Bucharest.
Cement producers are also involved in another investigation concerning an alleged agreement between the three companies to set the cement prices on the Romanian market. The Government was submitted a notification last month, specifying that the cement price on the Romanian market is excessive as compared to the neighbouring countries. However, cement companies denied the governmental data. The three cement producers on the domestic market – Lafarge Romcim, Holcim Romania and Heidelberg Cement set up Silotrade company, with the main purpose to buy Sicim.
Lafarge Romcim holds 45% in Silotrade, Moldocim Bicaz (Heidelberg’s arm) – 39.99% and Holcim – 15%, according to the data available in the Trade Registry, Mediafax informs. Silotrade took over 67.69% in the harbour operator Sicim Constanta at the beginning of the year from the financial investment company SIF Muntenia, following a transaction worth $3 million.
Sicim performs services such as loading-unloading of wood and construction materials in Constanta harbour. The company is the harbour’s only operator in this field and facilitates the access of domestic cement to shippers. “Silotrade Bucharest is a trade company, especially set for this acquisition, by Lafarge Romcim. The structure of the Silotrade shareholding initially comprised all the cement producers in Romania – Lafarge Romcim, Moldocim Bicaz (branch held by Heidelberg Cement Romania) and Holcim Romania, with the first two companies holding majority stakes,” Competition Office officials say.
adrian.mirsanu@zf.ro