S. Africa Antitrust Body Seeks Fines For Steel Firms

Law360, New York (September 1, 2009, 2:49 PM EDT) -- A group of steel companies that includes a unit of the world's top steelmaker, ArcelorMittal SA, may be on the hook for fines of 10 percent of the companies' annual revenue and exports after South Africa's competition watchdog requested the penalties be imposed over alleged price-fixing in the steel industry.

The South African Competition Commission said in a statement Tuesday that it had recommended that the country's Competition Tribunal impose administrative penalties against ArcelorMittal South Africa Ltd., Cape Gate (Pty) Ltd. and Cape Town Iron Steel...
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