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South Africa penalizes Sasol $50 million for overcharging for propylene, PP

4:36 AM MDT | June 5, 2014 | Natasha Alperowicz

The Competition Tribunal of South Africa today imposed a combined 534-million South African rand ($49.9 million) penalty for excessive pricing of propylene and polypropylene (PP) from January 2004 to December 2007. The tribunal has found Sasol Chemical Industries (SCI; Johannesburg), a subsidiary of Sasol, guilty of charging domestic customers excessive prices for purified propylene and PP and has imposed a penalty of R205.2 million in the case of propylene and R328.2 million for PP.   The tribunal has also imposed remedies in respect of SCI’s...

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