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South Africa’s Competition Commission confirmed that it raided the premises of four electric-cable manufacturers that it suspected of engaging in price fixing, market allocation and collusive tendering.
Business Day reported that the four companies (Aberdare Cables, Alvern Cables, South Ocean Electric Wire Company and Tulisa Cables), all with locations in Gauteng, South Africa, produce high-voltage cables for industrial use and low- and medium-voltage cables for households. The probe is of alleged price fixing, market allocation and collusive tendering, it said, noting that the four companies charged similar market prices, it said.
Aberdare Cables is owned by Power Technologies, the parent of which is Altron, which said that management was co-operating fully with the authorities, the story said. It added that Kevin Moodley, a director at Tulisa Cables, said his company would also co-operate fully with the investigation. Tulisa Cables provides electric wire, electric cables and steel armored cables. It also noted that South Ocean Electric Wire, which was formed in 1989 and operates from Alrode, is a subsidiary of South Ocean Holdings and has targeted the export market in Africa, and that Alvern Cables supplies products to the agricultural, mining, industrial, automotive, security and building industries.
It could take a year for the investigation to be concluded, it said. |
