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Anhui Conch Cement subsidiary in Indonesia fined $1.58 million for predatory pricing

( January 16, 2021, 08:15 GMT | Official Statement) -- MLex Summary: Conch South Kalimantan Cement, a subsidiary of China’s Anhui Conch, has been found guilty of engaging in predatory pricing practices in Indonesia and fined 22.3 billion rupiah ($1.58 million). The Indonesian Competition Commission said the company sold Portland Composite Cement at a loss when it first entered the South Kalimantan market in 2015, as seen in its financial statements, in order to gain market share against five other existing players. The regulator also said the company's parent, Anhui Conch Cement Company, has strong enough financial capacities to support this behavior. ...

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