From Reuters
SA’s competition watchdog has recommended Japanese shipping firm Nippon Yusen Kabushiki Kaisha Ltd (NYK) pay a R104 million ($8.5 million) penalty for price-fixing and collusion in the transport of cars. The Competition Commission said on Tuesday NYK had admitted guilt and agreed to pay the fine after an investigation into collusion involving several shipping firms.
“The Commission found that NYK colluded on 14 tenders with its competitors for the transportation of motor vehicles by sea,” competition authorities said in a statement. Rosalind Lake, a lawyer who represented NYK in the matter, said the company was not in a position to comment until the Competition Tribunal had ruled on the settlement. The Tribunal does not generally overturn decisions by the Commission.
The competition body said it was still pursuing its investigation into other shippers of motor vehicles, equipment and machinery to and from SA.
@alechogg what jurastriction has sa got over japanese company? &where foes the money go to? Where dd the fines for so called stadium fix go?
— David Goliath (@DavidGoliath48) June 30, 2015
