Tribunal begins hearing into Sasol excessive pricing charges

13 May 2013 21:25  [Source: ICIS news]

HOUSTON (ICIS)--The South African Competition Tribunal began hearing arguments on Monday into allegations that domestic pricing of polymers by Sasol between 2004 and 2007 was excessive.

Based on an investigation that began in 2007, the commission has alleged that Sasol and Safripol colluded to indirectly fix the prices of propylene and polypropylene and that Sasol had charged excessive prices for the two petrochemicals. The case was referred to the tribunal in August 2010.

Since then, Sasol and Safripol have settled with the commission on the collusion charges, paying penalties of rand (R) 16.5m ($1.8m, €1.4m) and R111m, respectively.

But the excessive pricing allegations remain against Sasol, charges that the South African chemicals producer has denied.

The hearing is expected to last four weeks and to include evidence from 16 witnesses before a verdict is rendered.

($1 = €0.77; $1 = R9.13)

By: Jeremy Pafford
+1 713 525 2653

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