Competition Commission investigations

The Commission is formally investigating five complaints against ArcelorMittal South Africa. The first involves alleged price fixing in the flat steel market and the second, alleged excessive pricing of tinplate. The third investigation involves alleged prohibited vertical practices in respect of purchases of scrap steel. The fourth investigation appears to involve an extension of the Barnes Fencing Industries Limited case described under contingent liabilities, into a later period. The fifth investigation relates to excessive pricing in the flat steel market and the iron ore surcharge introduced, and later cancelled by the company in 2010. The company is co-operating fully with the Commission in these investigations and delivered all the requested documentation to the authorities.