Cover pricing in construction sector 'endemic' worldwide
The Competition Tribunal has been told by a representative for G Liviero & Son that cover pricing was endemic in the construction industry worldwide. The submission follows the Competition Commission's call on June 24 for 15 construction firms to pay penalties for collusive tendering. Neil Cloete speaking for G Liviero on Thursday was responding to questions about what action was being taken against an employee who was involved in a project which contravened the Competition Act.
On Wednesday Corruption Watch said it made a submission to the Competition Tribunal for the hearings into the R1.46-billion settlement agreements facing top listed construction firms, which rigged bids for, among other large projects, the 2010 soccer World Cup infrastructure projects. Leave construction bosses alone!!! Sob!
Aveng, the country’s biggest construction company by market value, was fined R306.6-billion by the Competition Commission for price-fixing and collusion last month.... Read the full, comprehensive news article and discuss at Mail & Guardian