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SIC fined twon agents of the concrete pipe cartel with more than usd $3.7 million

SIC fined twon agents of the concrete pipe cartel with more than usd $3.7 million

The Superintendence of Industry and Commerce (hereafter, SIC) informed that two companies and five individuals involved in the Concrete Pipes Cartel were fined with more than COP$12.780.288.228 (approx. USD$3.7 million).

Through Resolution No.39386 of 2019, the SIC prove the responsibility and participation of two companies that have incurred in a restrictive agreement of market distribution (numeral 3 of article 47 of Decree 2153 of 1992), which was concretized through the establishment of discount percentages offered to their customers.

AMERICAN PIPE and TITÁN were the companies sanctioned by the SIC for having incurred, for more than a decade (2004-2014), in concerted, continued and coordinated conducts to distribute its clients in Bogotá D.C. and its surroundings.

In the same decision, the SIC also sanctioned five officials of the companies for having collaborated, facilitated, authorized, executed or tolerated the violation of the regime of free economic competition.

Although TUBOX's participation in the cartel was credited, the investigation period was expired.

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