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South Africa: GD Irons to pay R4M for cartel conduct

By  |  February 6, 2019

The Competition Commission of South Africa welcomed the decision of the Competition Tribunal (Tribunal) to confirm as an order a settlement agreement with GD Irons Construction (GD Irons). In the agreement, GD Irons agreed to pay an administrative penalty of 4.000 million rand (US$295,395). In September 2009, the Commission initiated an investigation against the construction industry in general.

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    The investigation found, amongst other things, that GD Irons was involved in collusive tendering, markets division, and price fixing in contravention of the Competition Act. The investigation found that GD Irons entered into a collusive tender agreement with Guiricich Brothers (Guiricich) in November 2006.

    Guiricich provided GD Irons with a cover price to a tender issued in relation to the construction of a new distribution deport for British American Tobacco South Africa. In September 2007, Guiricich paid GD Irons a loser’s fee.

    Full Content: Comp Com

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