Tribunal confirms settlement agreement in plant and equipment hire cartel case

The Competition Tribunal has confirmed, as an order, a R480 000 administrative penalty imposed on plant and equipment hire company Hard Hat Equipment Hire as part of a settlement in a case in which it was accused of alleged price fixing and/or fixing trading conditions in contravention of the Competition Act. The company further agreed, among others, to refrain from contravening the Act and engaging in any prohibited practice in the future and would prepare a statement summarising the contents of the settlement agreement and circulate it to its employees, managers and directors.