Sasol agrees to indirectly fixing polypropylene prices in South Africa, to pay US$16 mln fine

15-Dec-10
Sasol has agreed to pay 112 mln rand (US$16.4 mln) to settle an antitrust case after agreeing that it “indirectly” fixed polypropylene prices in South Africa. The penalty amount is 3% of it’s 2009 turnover derived from polypropylene products. Sasol’s contravention is described by the company as being of “technical” nature with no “intentional agreement to fix prices.” The Competition Commission also found Sasol charged “excessive prices” for propylene and polypropylene. Sasol does not agree with the commission and is contesting the allegations.
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