Cable manufacturer to fork out R13m for price fixing

Alberton-based cable manufacturing company South Ocean Electric Wire Company (SOEW) has been fined R13.36-million by the Competition Tribunal, after admitting to having engaged in price fixing, market division and collusive tendering between November 2003 and November 2012. The fine comprises a percentage of SOEW’s turnover for the financial year ended February 2010. The Competition Commission referred the case to the tribunal in March 2010 and the complaint was updated twice to include ...