The Competition Commission has welcomed the Competition Tribunal’s order confirming a settlement agreement between the commission and the Allens Meshco Group (AMG) in connection with alleged collusive conduct in the wire industry between 2001 and 2008.
Under the terms of the agreement, AMG has agreed to pay an administrative penalty of R5-million.
The confirmation of the settlement agreement concludes the commission's legal proceedings concerning alleged cartel conduct within the wire industry.
The commission had previously also reached settlement agreements with Cape Gate, Hendok, and Wireforce.