| Title | The Competition Commission and NWK |
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| Case No | 43/CR/Jun11 |
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| Parties | The Competition Commission vs NWK Ltd |
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| Status | Granted |
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| Penalty | R3 295 158.08 |
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| Rating | 2 |
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| Date | 09/11/2011 |
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| Time | No time available |
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| Summary | The Competition Tribunal has on 09 November 2011 confirmed settlement agreements concluded between the Competition Commission and 7 companies in the grain storage and trading industry. This involves the Commission's price fixing case against 17 firms in this market. In terms of the settlement agreements GWK Limited, NTK Limpopo Agric Beperk, NWK, OVK Operations Limited, Senwes Limited, Vrystaat Kooperasie Beperk and The Grain Silo Industry (Pty) Ltd have all committed to cooperate with the Commission in prosecuting the remaining cases; to refrain from contravening the price fixing provisions of the Competition Act and to develop and implement competition compliance programmes. In addition, the respondents have agreed to pay administrative penalties as follows: • GWK Limited will pay R 301 415.23; • NTK Limpopo Agric Beperk will pay R189 854.66; • NWK Limited will pay R3 295 158.08; • OVK Operations Limited will pay R375 615.00; • Senwes Limited will pay R7 628 670.36; • Vrystaat Kooperasie Beperk will pay R1 286 969.22; and • The Grain Silo Industry (Pty) Ltd will pay R94 556.00. The above penalties represent 4% of each respondent’s turnover for the 2009 financial year. After hearing the parties the Tribunal may confirm the settlements, refuse to confirm the settlements or require amendments to the settlement agreements. The Tribunal has already confirmed 8 settlements in this case amounting to R22 194 944.72 in administrative penalties. Background The Competition Commission initiated an investigation against members of Grain Silo Industry (Pty) Ltd on 17 March 2009, in which it... |
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| Keywords | consent order, grain storage, silo, national, cartel activity, price fixing, administrative penalty, industry organisation, SAFEX tariffs |
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| Source | Competition Tribunal |
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| Reasons and Orders | 43CRJun11 NWK |
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| Date Posted | 11/11/2011 12:20pm |
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| All Other Case Documents | No documents available |
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