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South Africa: Chemical firm announces Competition Commission raid

 |  December 7, 2014

South Africa’s Competition Commission has reportedly raided a unit of chemicals and explosives maker AECI last week, the company said.

AECI said in a statement last Friday that the Commission https://www.competitionpolicyinternational.com/2013-a-glimpse-into-the-future-of-south-african-competition-enforcement raided its office in part of a market investigation into alleged price collusion. The company said it is fully cooperating with regulators on the matter.

AECI’s Akulu Marchon unit was reportedly searched last Thursday. The company supplies chemicals used in skin and hair products.

Its rival Investchem was also reportedly raided as part of the price-fixing probe, the Commission confirmed in separate statements. Authorities say that since about 2003, companies may have held secret meetings to collaborate on certain product prices.

Full content: Reuters

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