Two car parts firms agree to R2.4m competition settlement

1st February 2022 By: Schalk Burger - Creamer Media Senior Deputy Editor

Two foreign firms involved in the car parts industry have agreed to pay a settlement amount totalling R2.4-million, after being accused of allegedly colluding to fix prices, divide markets and tender collusively in relation to requests for quotations to supply starter motors and windshield wipers.

The consent agreement has been confirmed as an order by the Competition Tribunal. Among others, the firms have also agreed to continue implementing an extensive competition law compliance programme and refrain from engaging in conduct in contravention of the Competition Act in the future.

The settlement amount forms part of the terms of a consent agreement concluded between the Competition Commission and Robert Bosch and Bosch Electrical Drives. Robert Bosch is a company incorporated under the company laws of Germany and Bosch Electrical is a company incorporated under the company laws of South Korea.

Although the companies have agreed to the terms of the consent agreement, they do not admit to having contravened the Competition Act.