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Concor infringement doesn't impact M&R

The Competition Tribunal has granted a declaratory order confirming Concor, a subsidiary of listed Murray & Roberts (M&R), contravened the Competition Act in tendering for a number of projects. The Competition Commission applied for the declaratory order. It follows M&R being granted conditional immunity from an administrative penalty for the projects, with this immunity extended to Concor, which was acquired by M&R in 2006. The tribunal found Concor colluded with other construction companies in tenders for five projects. The projects involved are: Upgrading of National Road 12 Beefmaster Intersection to Bloemhof; rehabilitation of the Ermelo to Amersfoort route; upgrading of National Road Tsitsikamma to Witelbos; Ngezi Phase I Civil Works Project; and a project at Tati Activox in Botswana.

The tribunal said on Thursday the its decision followed a complaint lodged by the Competition Commission with the Tribunal, in which the Commission sought a declaratory order from the Tribunal confirming that Concor contravened a section of the Competition Act in relation to the projects. Ed Jardim, group investor and media executive at M&R, said on Thursday the group had received conditional leniency and there was no impact at all on M&R.

Source: www.iol.co.za

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Concor infringement doesn't impact M&R

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