South Africa Court Overturns Sasol's $43m Polymer Pricing Fine

Source: Reuters 6/18/2015, Location: Africa

South Africa's Competition Appeal Court has overturned a decision to fine petrochemicals group Sasol for polypropylene and propylene overpricing, the company said.

The South African court, which reviews cases around competitiveness and pricing, overturned a 534 million rand ($43 million) fine issued by the competition commission for "excessive" polymer prices between 2004 and 2007, Sasol said in a statement on Thursday.

The chemicals are used to make rigid plastics products from chairs to bottle tops.


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