Johannesburg – Maize milling firm, Blinkwater Mills will pay a R10.1m fine for price-fixing, the Competition Tribunal ruled.
The Tribunal approved the settlement for the mill which is based in Middleburg Mpumalanga. The settlement is 5% of its annual turnover for the 2007 financial year. The penalty is payable in three instalments, within a year, the Competition Commission said in a statement.
The complaint relates to the price fixing of white maize products, and was lodged as far back as 2007, according to the Commission.