No propaganda, no new-speak
1 May 2017 00:44 (South Africa)

Tyre cartel uncovered by Competition Commission

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

The Competition Commission says it has submitted a complaint of price fixing, information exchange and market allocation to the Competition Tribunal. The allegations were against the SA Tyre Manufacturers' Conference (SATMC) and tyre manufactures and suppliers, Apollo Tyres, Goodyear, Continental Tyre SA and Bridgestone SA. The investigation came in 2008 after someone complained to the commission that the tyre manufacturers adjusted their prices around the same time and within the same parameters. Bridgestone broke ranks first and agreed to tattle in exchange for conditional immunity from prosecution. According to the company, the cartel members spoke on the telephone periodically from 1999 to 2007 and agreed to co-operate to stabilise the market. The commission is asking the tribunal to give an administrative penalty of up to 10% of turnover revenue for each party. Keep in mind though, that not all price fixing is illegal. Read more: Sapa, via TimesLive

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

Get overnight news and latest Daily Maverick articles





Do Not Miss