Italian antitrust authority open probe into alleged price fixing by four cement makers

Italy's antitrust authority has opened an investigation into four cement makers for alleged price fixing and, with the tax police, has searched the offices of the companies, it said in a statement on Thursday.

The companies under investigation are 1451 Buzzi Unicem, 1909 Cementir Italia, Industria Cementi Giovanni Rossi and 680 Holcim Italia, the watchdog said.

"The case concerns the possibility of an agreement ... to coordinate cement sales price increases," the antitrust authority added.

Holcim Italia, part of the 8161 LafargeHolcim Group, confirmed the inspections to Reuters news agency. It said the company had always acted according to the law and has "policies and procedures in place that are designed to ensure compliance with principles and rules of fair competition prohibiting anti-competitive behaviour and the abuse of a dominant market position".

Buzzi told Reuters it is confident it will be able to demonstrate during the investigation that it had always acted in compliance with competition law.

Cementir declined immediate comment. Industria Cementi Giovanni Rossi could not immediately be reached for comment, said Reuters.