Regulators accuse Sasol of polymer price fixing

16-Aug-10
Sasol Ltd has been accused of price fixing in the polymer market by South Africa’s Competition Commission. As per the Commission, the company “charged excessive prices for polypropylene and propylene to its local customers.” A fine of 10% of annual sales has been recommended by the Commission. The probe was initiated because of government concerns about “polymer pricing and its negative effect on diversified growth and employment in manufacturing.” Safripol Ltd. admitted to fixing prices with Sasol and agreed to pay a penalty of 16.5 million rand, as per the regulator.
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