Tribunal confirms Aveng consent order

Posted On Thursday, 26 February 2009 02:00 Published by Commercial Property News
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Aveng has agreed to pay an administrative penalty of R46 million as well as develop and implement a formal compliance programme.

Roger Jardine Aveng

Listed construction company Aveng has been granted a consent order, the Competition Tribunal said.

This followed Aveng's admission that Infraset, one of its divisions, had engaged in price fixing, dividing and allocating the markets, and collusive tendering in the markets for concrete pipes andculverts in Gauteng, KwaZulu-Natal and the Western Cape.

The consent order was in effect a negotiated agreement between Aveng and the tribunal.

Aveng agreed to pay an administrative penalty of R46 million as well as develop and implement a formal compliance programme, the tribunal said.

In addition, the company had agreed to co-operate fully with the prosecution of other firms allegedly involved in the cartel.

This followed an investigation by the Competition Commission into collusion by manufacturers of pipes, culverts and manholes.

Infraset is involved in the manufacture of pre-cast concrete pipes and culverts which are used in building and construction.

Last modified on Monday, 24 June 2013 22:53

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