In a statement by Sasol at its annual general meeting recently, the petrochemicals group said it has committed itself to further enhance its competition law compliance processes and systems and noted that the board of directors regretted instances of collusion that occurred in the Sasol Wax GmbH and Sasol Nitro businesses.
In October last year, Sasol Wax GmbH had been fined R3,8-billion for violating the European Union competition law. In May, Sasol also agreed to pay a hefty fine of R188-million, admitting that its fertiliser unit, Sasol Nitro, had contravened the South African Competition Act.
“Legal compliance in general and competition law compliance specifically remain a priority focus area of Sasol’s executive management and the board,” the directors said in a statement.
