Electric cable association to pay penalty for price-fixing
The Competition Tribunal has confirmed a settlement agreement with the Association of Electric Cable Manufacturers South Africa (AECMSA) relating to its involvement in fixing the selling price of electric power cables.
Customers affected by the contravention were primarily State-owned Eskom, as well as large industry and municipalities.
In its complaint filed with the tribunal, the Competition Commission said members of AECMSA, including power cable manufacturers, agreed on, or engaged in a concerted practice in respect of the input prices or costs in respect of raw materials required for the manufacture of power cables based on which indices were calculated and subsequently applied in a price adjustment formula.
AECMSA admitted that by setting the indices by way of agreement it directly or indirectly fixed the selling price of power cables and it agreed to pay an administrative penalty of R14 853.67.
This amounts to 1% of the association’s membership fees for 2010, as the association has no turnover.
AECMSA’s decision to settle the complaint referral does not amount to a settlement of an acknowledgement of any contravention of any member of AECMSA.
Members, the tribunal statement said, will decide independently whether to admit or deny the contraventions and whether or not they wish to settle with the commission.
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