SOL - Sasol - Receipt of statement of objections from European Commission after
investigation into the paraffin wax industry and termination of US
(Incorporated in South Africa)
(Registration number: 1979/003231/06)
ISIN Code: ZAE000006896
Share Code: SOL
NYSE Code: SSL
Receipt of statement of objections from European Commission after investigation
into the paraffin wax industry and termination of US investigation
On 1 June 2007, Sasol Wax GmbH and Sasol Wax International AG, both located in
Hamburg, Germany, announced they had received a statement of objections from the
European Commission on 31 May 2007, setting out the results of the European
Commission`s investigation into alleged anticompetitive behaviour by members of
the European paraffin wax industry.
According to the document, several European paraffin wax companies, including
Sasol Wax International AG and Sasol Wax GmbH, have collectively infringed
applicable antitrust laws.
In a previous statement, Sasol Wax GmbH and Sasol Wax International AG said that
they had cooperated fully with the European Commission and would continue to
support the Commission in its investigation.
Sasol Wax International AG, the holding company of Sasol Wax GmbH, is a wholly
owned subsidiary of the Sasol Group of companies. Sasol formed a joint venture
with the Schumann paraffin wax business in Hamburg in 1995. Initially called
Schumann Sasol International AG, the business was re-named Sasol Wax
International AG in 2002 when Sasol acquired 100% of the shares.
According to the European Commission`s findings, the alleged violation of
antitrust laws by the paraffin wax businesses in Europe had commenced before
Sasol became a shareholder in that business.
Furthermore, the US Department of Justice investigation into Sasol Wax and other
companies active in the wax business in the US, which was announced in April
2005, has been closed. The Department of Justice informed Sasol Wax on 2 May
2007 that it had closed the investigation and would not take action against
In Sasol`s financial year 2005/06, Sasol Wax had an operating profit of Euro35,4
million, representing 1,3% of Sasol group operating profit.
1 June 2007
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 01/06/2007 15:46:00 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department .