The Competition Commission raided meat-supplying companies in three provinces on Wednesday on suspicion of price fixing. The commission conducted simultaneous search and seizure operations at 13 premises of seven companies as part of a continuing investigation into the alleged fixing of prices and trading conditions. The companies whose premises were raided are Karan Beef, Sparta, Chalmar, Beefmaster, Morgan, Beefcor and Fabvleis. The companies operate in Gauteng, the Free State and Northern Cape. Nortons director Anthony Norton said the raid indicated a robust stance the commission had taken on cartel behaviour. “There [has been] a significant uptick in raids in the last few months and these raids have taken place since cartel conduct became criminal in May [2016].” According to the Competition Amendment Act, price fixing, market allocation and collusive tendering between actual and potential competitors could result in criminal liability for directors or managers. Apart from facin...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.