Ninth Arbitrary Court of Moscow overturned the decisions and actions of the Federal Antimonopoly Service (FAS) in connection with Eurocement Group which had been charged with breaking antimonopoly law in October 2005. The interests Eurocement, the biggest producer of cement in Russia, were represented by EPAM.

The Ninth Arbitrary Court cancelled the earlier decision of the Moscow Arbitration Court, which denied the claims of Eurocement Group to overturn the decisions and actions of Federal Antimonopoly Service dated 11 October 2005.

FAS had previously ordered Eurocement to transfer a substantial part of its 2005 revenue to the Federal Budget and had fixed a selling price of cement which was below the realistic price for an industry that had not been sufficiently financed during last 15 years and was now seeing an increasing investment demand.

“Today’s decision gives us an opportunity to resolve a number of differences between Eurocement and the FAS, which is vital for revival of Russian cement industry and for the timely realization of the priority national project ‘Accessible and comfortable housing – to citizens of Russia’” stressed Dmitry Afanasiev, the Chairman of EPAM.