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Sasol penalized

6:51 AM MDT | July 18, 2014

The Competition Tribunal of South Africa has penalized Sasol a combined 534-million South African rand ($50 million) for excessively pricing propylene and polypropylene (PP) from January 2004 to December 2007. The tribunal finds Sasol Chemical Industries (SCI), a Sasol subsidiary, guilty of charging domestic customers excessive prices for purified propylene and PP and applied penalties of R205.2 million in the case of propylene and R328.2 million for PP. The tribunal has also imposed remedies that will lower the prices that SCI charges for each product in...

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