Photo: Reuters
Pretoria - The Competition Tribunal has confirmed a settlement agreement between the Competition Commission and Blinkwater Mills.
Under the deal, the maize miller agreed to pay a fine of R10.1 million for engaging in price fixing with 17 other firms in the market for white maize milling.
The penalty represents 5 percent of Blinkwater’s turnover for its 2007 financial year.
The fine follows the commission in 2007 initiating a complaint against Tiger Brands, Pioneer Foods, Foodcorp, Pride Milling and Progress Milling, extending it to include Blinkwater, Godrich Milling, TWK Milling, Keystone Milling, Westra Milling, Carolina Mills, Brenner Mills, Paramount Mills, NTK Mills, Kalel Mills, Bothaville Milling and Allem Brothers.