Wednesday, December 15, 2010

Sasol gets R111 million fine

Lelethu Mquqo
15 December 2010

The Competition Commission has given Sasol a R111 million- fine for anticompetitive behaviour in its polymers unit.

The company admitted that a supply agreement with Safripol had resulted in indirect price fixing.

Sasol will pay more than a quarter of a billion Rands in fines after the Competition Tribunal formerly confirmed a settlement order in which it admitted to cartel conduct in the fertiliser industry.

It was also fined three-point-seven-billion-Rands by the European Commission for participating in a paraffin wax cartel in 2008.

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