Wood panel company coughs up millions for anti-competitive practices

The wood panel company Sonae Arauco has agreed to pay an administrative penalty of R46.9m following an investigation by the Competition Commission.

The company admitted to price-fixing and collusive conduct in the wood-based commodity industry.

Competition Commission head of communications Sipho Ngwema says it is against the Competition Act for companies to decide amongst themselves on prices they are going to charge customers.

Read: Competition Commission denies allegations of corruption

We are still investigating the matter with regards to PG Bison but we have concluded an agreement with Sonae Arauco, which is before the tribunal.

Sipho Ngwema, Communications head - Competition Commission

We are in discussions with the National Prosecuting Authority to look at all our cases in this regard and follow the law.

Sipho Ngwema, Communications head - Competition Commission

In fact, some of these cases are just common corruption and fraud.

Sipho Ngwema, head of communications - Competition Commission

To hear the rest of the conversation, listen below:


This article first appeared on CapeTalk : Wood panel company coughs up millions for anti-competitive practices


Recommended

by NEWSROOM AI
Read More
Competition Commission moves to prosecute Ford over Kuga fires

Competition Commission moves to prosecute Ford over Kuga fires

The commission says the vehicle manufacturer has contravened several sections of the Consumer Protection Act.

'We've seen profit margins of 30% in South Africa'

'We've seen profit margins of 30% in South Africa'

The Competition Commission's Thembinkosi Bonakele on the report showing the high cost of mobile data compared to other countries.

Schools settle with Competition Competition to axe school uniform "cartels"

Schools settle with Competition Competition to axe school uniform "cartels"

Some schools were still not adhering to the new school uniform regulations forcing the commission to initiate strict penalties.

 Competition Tribunal to confirm agreements in school uniform industry

Competition Tribunal to confirm agreements in school uniform industry

The Competition Commission has reached a settlement with several schools found guilty of anti-competitive behaviour.

Three SA media companies agree to pay penalties for price-fixing

Three SA media companies agree to pay penalties for price-fixing

Ster-Kinekor, Primedia, and the SABC have admitted to colluding and agreed to the settlement terms of the Competition Commission

[LISTEN] How school uniform suppliers should be charging you

[LISTEN] How school uniform suppliers should be charging you

'The school uniform should be obtainable in many suppliers as possible.' says Sipho Ngwema from the Competition Commission.

Popular articles
Even upmarket boutiques offer lay-bys! Here’s what you need to know…

Even upmarket boutiques offer lay-bys! Here’s what you need to know…

Lay-by has taken off as a payment option in the last year or two, says consumer journalist Wendy Knowler.

[LISTEN] Jacques Pauw and NB Publishers issued with summons for R35m

[LISTEN] Jacques Pauw and NB Publishers issued with summons for R35m

Former State Security Agency director general Arthur Fraser says he has suffered repuational damage because of Pauw's book.

Innovative medical glue replaces stitches and staples

Innovative medical glue replaces stitches and staples

Bio-Technology Ph.D. student at the Israel Institute of Technology Alona Shagan explains device similar to a standard glue gun.

[VIDEO] DA's Van Damme accuses family of racism, V&A Waterfront apologises

[VIDEO] DA's Van Damme accuses family of racism, V&A Waterfront apologises

The Democratic Alliance MP claims she was subjected to a racist tirade at Cape Town's V&A Waterfront and wants action taken.

I’ve never seen anything like this! – Simon Brown on Old Mutual vs Peter Moyo

I’ve never seen anything like this! – Simon Brown on Old Mutual vs Peter Moyo

The Money Show’s Bruce Whitfield interviews Simon Brown, Financial Educator at Just One Lap.

[WATCH] Volkswagen’s new feel-good Kombi ad 'Cupcake Boss' is brilliant

[WATCH] Volkswagen’s new feel-good Kombi ad 'Cupcake Boss' is brilliant

Advertisers traditionally warn against working with children. In this ad it works beautifully, says ad expert Andy Rice.

Court orders Gupta-linked Trillian to pay back R600 million to Eskom

Court orders Gupta-linked Trillian to pay back R600 million to Eskom

It also ordered the company to pay for all the costs of the application. Bruce Whitfield interviews EWN’s Clement Manyathela.

Comparing milk prices across Africa suggests the rand may get stronger

Comparing milk prices across Africa suggests the rand may get stronger

The Money Show’s Bruce Whitfield interviews Neville Mandimika, Africa Strategist at Rand Merchant Bank.

Learn to invest, then watch your money grow

Learn to invest, then watch your money grow

Ray White interviews Thobelani Maphumulo, author of "Invest Your Way to Wealth".