Spanish court dismisses Cemex appeal

The Federal Court of Justice in Germany confirmed the fine imposed on HeidelbergCement in 2009 by the Higher Court of Düsseldorf at a reduced level of €161.4 million. After release of the respective provision, a P&L effective charge of €30 million remains in the second quarter 2013. The cash outflow of €161.4 million will probably occur within the next 12 to 18 months. Result outlook and financial planning remain unchanged. "We have to accept the verdict of the Federal Court of Justice, and we state that th

Joaquín Estrada, the new chairman of Oficemen, the Spanish Association of Cement Producers, has said that the cement industry in Spain is currently working at 50% of its installed capacity and as a result some of the sector's 37 factories will have to shut down temporarily. Estrada, who is also the director general of Cemex España, has not specified any more details. However, official sources from Cemex España are said to have stated that for the moment the cement group's plants at Alicante and Bunol are no

Mexico’s collegiate circuit tribunal has ruled in favour of Cemex on the so-called 'May Nour' case which has been in dispute for nearly ten years.
Comercio para el Desarrolo Mexicano (CDM), a company made up of former employees of the global cement manufacturing giant, together with the now obsolete Federal Competition Commission, accused Cemex in 2004 of monopolistic practices. CDM claimed the company had blocked 27,000tonnes of Russian cement from entering Mexico via the ship known as Mary Nour. The com