THEE - The Competition Commission - Media Statement
JSE
THEE
THEE - The Competition Commission - Media Statement
Media Statement
03 June 2010
Competition Commission calls upon millers to come forward and settle cartel
cases
The Competition Commission calls on firms active in the milling of white maize
and wheat to approach it for possible settlement of their cases.This is a once
off offer for firms that may have been involved in cartel activity in the
milling sector to come clean and cooperate with the Commission. In return, a
firm that fully cooperates with the Commission will receive favourable
settlement terms. Cooperation means full disclosure of information, facts,
communication and/or data relating to the firm`s participation in, or
information about cartel activity in the milling of white maize and wheat.
Since the Commission`s referral of the two cartel cases against millers of flour
and white maize to the Competition Tribunal, it has received numerous approaches
from the firms that were involved in what seems like endemic cartel arrangements
at many regions in the country. These regional arrangements involved a lot of
new players that were not cited in the cases referred to the Tribunal. It
appears that the regional arrangements reinforced, overlapped and completed the
national cartel arrangements. As such the milling cartel is far much wider and
involves many firms that were previously uncovered. The Commission has already
concluded settlement terms with some of the firms that have approached it and is
in settlement discussions with others.
This communique is targeted at firms that were part of the cartel, especially at
regional level, whether or not they are cited as respondents in the current
cases before the Tribunal. This gives an opportunity to largely small regional
based millers involved in these arrangements to clean up their companies and
settle the matters without litigation. The Commission gives the companies
involved until 30 June 2010 to approach it with the aim of settling these cases.
After this date the offer will lapse and the Commission reserves its right to
seek maximum penalties from the Tribunal.
Further information
Molebogeng Taunyane, Coordinator: External Communications
012 394 3289/082 646 8663/molebogengt@compcom.co.za
Date: 03/06/2010 09:55:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
