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Lafarge fined R149 million for cement cartel

By  |  March 8, 2012
Lafarge fined R149 million for cement cartel

The Competition Commission has reached a settlement with Lafarge Industries South Africa that resolves charges of cartelization. The Commission found that Lafarge–with South Africa’s other main cement producers Pretoria Portland Cement Company, AfriSam, and Natal Portland Cement Cimpor–colluded to fix prices and allocate the cement market. Sales information was submitted to the Cement and Concrete Institute to maintain agreed-upon prices. Lafarge’s involvement in the cartel dated from 1996. The company has agreed to the settlement fine of R 148,724,400, which constitutes 6 percent of its 2010 annual turnover in the Southern African Customs Union region.

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    A R 124,878,870 settlement has already been reached with AfriSam. The Commission will focus on the case against NPC-Cimpor next.

    Full content: Mail & Guardian

     

    Related content: South African Competition Policy in 2008: Key Priorities of the Competition Commission (Simon Roberts, Competition Commission of South Africa)