Competition Tribunal confirms settlement agreements

22nd March 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

The Competition Tribunal has confirmed two settlement agreements; one between the Competition Commission and Air Products South Africa and the other between the commission and MVA Bricks.

As part of the settlement agreement, in February, Air Products South Africa agreed to pay an administrative penalty of about R2.76-million to South Africa’s competition authorities.

This followed a concession by the company 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.

In addition, the tribunal confirmed an agreement in which MVA Bricks undertook to pay an administrative penalty of R672 565, or 2.5% of its affected turnover for the financial year ended February 2011, after admitting that it had entered into an agreement with Aveng Africa which contravened the Competition Act.

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.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION