Companies in consensus to proceed against Iscor

Companies in consensus to proceed against Iscor

News from the industry reveal that Iscor's attempts to cover up the over pricing issue, brought by allegations against them from the steel consuming companies, are ineffectual as mining companies, namely Harmony Gold Mining and Durban Roodepoort Deep, declared that they are going to apply to the Competition Tribunal. As previously reported by SteelOrbis, in mid January this year, South African steel producer Iscor held a meeting with steel consuming companies in order to end the ongoing complaints stating that prices set by the company were overcharged. This meeting was held despite Competition Commission's ruling in favor of Iscor. Complainants which were not satisfied by Iscor's conciliatory attempts decided to enforce their right to take the issue to court. It is reported that trial process may last for almost a year. Complainants consisting of almost 40 companies include Volkswagen SA, Harmony, Durban and the Conveyor Manufacturers Association.