Company accused of overcharging for sanitisers pays R500,000 no-fault fine

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The latest settlement agreements bring to 23 the number of agreements that have been confirmed as orders of the Competition Tribunal since April.

In the latest case, Caprichem has agreed to pay a R500,000 fine after it was accused by the Competition Commission of charging excessive prices for hand sanitisers.

In addition, the manufacturer and supplier of chemicals in Cape Town agreed that its gross profit margin on 5-litre hand sanitisers will not exceed an agreed to maximum percentage for the duration of the national state of disaster. According to the settlement agreement, Caprichem is entering into the agreement “in order to avoid protracted litigation, and nothing in the agreement should be construed as an admission of liability."

Another company, West Coast Hardware, agreed to donate R6,000 to the Solidarity Fund after the commission accused it of excessively pricing face masks.Another agreement was reached between the commission and Farpoint Trading 31 CC, trading as Mica Durban North, for excessive pricing of hand sanitisers.

 

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