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Two car parts firms agree to R2.4m competition settlement

By:  
Creamer Media Senior Contributing Editor
 
AUTOMOTIVE
Two foreign firms involved in the car parts industry have agreed to pay a settlement amount totalling R2.4-million, after being accused of allegedly colluding to fix prices, divide markets and tender collusively in relation to requests for quotations to supply starter motors and windshield wipers. The consent agreement has been confirmed as an order by the Competition Tribunal. Among others, the firms have also agreed to continue implementing an extensive competition law compliance programme and refrain from engaging in conduct in contravention of the Competition Act in the future.
 
 
 
 
 

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