Price-fixing racket: SA manufacturers blame foreign firms
Naacam & Naamsa say virtually all manufacturers being investigated for price-fixing are international firms.
JOHANNESBURG - Motor component manufacturer's group Naacam, and car-makers group, Naamsa, say they're surprised by the size of the Competition Commission's investigation into price-fixing in the car parts industry.
Yesterday the commission said it was going to probe 81 car parts companies as part of an international investigation into price-fixing.
The commission also says it's received a tip-off from a whistleblower in South Africa.
Both part manufacturers says it seems that virtually all manufacturers being probed for alleged price-fixing are international firms.
Naamsa's Nico Vermulen says this is a massive probe.
"We are surprised at the scope and the scale of the investigation which appears in the main to relate to imported components as opposed to locally manufactured and supplied components."
The Competition Commission said its investigation would include firms like Mitsubishi and Panasonic.
It also says the alleged collusion started back in 2000.
"Let's not pre-empt the outcome at this stage. We all know that any business operating in South Africa and internationally should be aware of the compliance with competition law."