Competition Tribunal to decide on Air Products settlement agreement
The Competition Tribunal would, on Wednesday, decide whether or not to confirm the settlement agreement agreed to between the Competition Commission and Air Products South Africa in February.
Last month, Air Products South Africa agreed to pay an administrative penalty of about R2.76-million to South Africa’s competition authorities.
This formed part of a settlement agreement with the Competition Commission, in terms of which Air Products admitted that its agreement with Sasol Chemical Industries had given rise to price fixing and market allocation, resulting in the prevention of competition in the industrial gases market.
The tribunal would hear the settlement and determine whether to confirm it, refuse to confirm it or request that amendments be made to the agreement.
Meanwhile, the tribunal had also received a request from the Competition Commission and MVA Bricks to confirm a settlement agreement reached between the two parties.
In the agreement, MVA Bricks admitted that it had entered into an agreement with Aveng Africa which contravened the Competition Act, and undertook to pay an administrative penalty of R672 565, or 2.5% of its affected turnover for the financial year ended February 2011.
This settlement followed an investigation by the commission which found that Aveng Africa, trading as Infraset; Bosun Brick Midrand; Cast Industries; Concor Technicrete; Vibro Bricks and MVA Bricks, had fixed the selling price of generic paving blocks in contravention of the Competition Act.
Infraset has applied for leniency for its conduct in terms of the commission’s corporate leniency policy.
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