South African Cement Co. Fined $6.5M For Fixing Prices

Law360, New York (March 8, 2012, 4:11 PM EST) -- South Africa's competition authority has reached a 149 million South African rand ($6.5 million) settlement with a cement company that admitted to participating in an industry-wide price-fixing conspiracy, the South African Competition Commission announced Thursday.

The settlement resolves an investigation by the Competition Commission that revealed a price-fixing and market division agreement between Lafarge Industries South Africa and the nation's other three major concrete producers, Pretoria Portland Cement Co. Ltd., AfriSam Ltd. and Natal Portland Cement Cimpor Ltd.

“Lafarge admits that it entered into agreements and...
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