Johannesburg - Listed construction company WBHO has received immunity for anti-competitive practices related to 10 projects from the Competition Tribunal.
The issue dates back to 2009 when the Competition Commission - the tribunal’s prosecutorial body - started probing prohibited practices by more than 18 construction companies.
This week, the tribunal confirmed a settlement agreement between WBHO and the Competition Commission, which grants the company immunity from an administrative penalty in relation to its participation in a number of prohibited practices.
In a statement, the tribunal explains the settlement had been delayed for some time because of disagreement between WBHO and the commission over the wording of the consent order.
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As part of its settlement, WBHO has agreed not to engage in further prohibited practices and has amongst other things, implemented a competition law compliance programme to ensure that its employees, management, directors and agents do not engage in any future contraventions of the Competition Act.
The implicated companies, which well known construction companies, allegedly fixed prices, split markets up among themselves and were tendering collusively.
As a result of the probe, which led the commission to believe there was widespread collusion in the sector, it invited the companies involved to settle with it, a process started five years ago.
WBHO applied first for leniency, which was conditionally granted as it provided the commission with information around other prohibited practices other construction companies were involved in.
The projects involved include the construction of several roads.
IOL