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PPC COMPETITION COMMISSION SERVES SEARCH ORDER ON PPC

Release Date: 03/08/2000 16:39
Code(s): PPC
Wrap Text

PRETORIA PORTLAND CEMENT COMPANY LIMITED - PRESS RELEASE 3 AUGUST 2000
PRETORIA PORTLAND CEMENT (PPC) TODAY CONFIRMED THAT IT WAS SERVED WITH AN ORDER THIS MORNING ALLOWING THE COMPETITION COMMISSION TO SEARCH ITS PARKTOWN HEAD OFFICE.
PRIOR TO THE RECEIPT OF THIS ORDER, PPC WAS ADVISED THAT COMPLAINTS HAD BEEN LODGED WITH THE COMPETITION COMMISSION. HOWEVER, SUFFICIENT DETAILS OF THE COMPLAINT WERE NOT GIVEN TO PPC AND HAVE STILL NOT BEEN GIVEN TO PPC.
NOTWITHSTANDING THIS, PPC HAD AGREED TO CO-OPERATE FULLY WITH THE COMPETITION COMMISSION ON A VOLUNTARY BASIS, IN RELATION TO ANY LEGITIMATE COMPLAINT. JOHN GOMERSALL, GROUP MANAGING DIRECTOR OF PPC, SAID: "PPC IS CONSIDERING ITS LEGAL POSITION IN RELATION TO THE SEARCH ORDER. HOWEVER, WE ARE MOST SURPRISED THAT THIS EXTRAORDINARY STEP HAS BEEN TAKEN. IT NOW APPEARS THAT THE COMPLAINT RELATES TO SLAGMENT (PTY) LTD, WHICH IS JOINTLY OWNED BY PPC, LAFARGE AND ALPHA SINCE THE DISSOLUTION OF THE CEMENT CARTEL IN 1996."
PPC'S SHAREHOLDING IN SLAGMENT IS 33,33%. SLAGMENT PROCESSES AND SELLS SLAG BY-PRODUCTS FROM STEELMAKING OPERATIONS IN SOUTH AFRICA. THESE SLAG
BY-PRODUCTS, WHICH HAVE CEMENTITIOUS PROPERTIES, ARE EITHER BLENDED IN VARIOUS CEMENT PRODUCTS, OR USED SEPARATELY WITH CEMENT DIRECTLY IN THE BUILDING AND CONSTRUCTION INDUSTRIES.
FURTHER INFORMATION WILL BE MADE AVAILABLE AS AND WHEN IT BECOMES AVAILABLE. ENDS ISSUED BY: MEROPA COMMUNICATIONS
ANDREA VISSER / LINDSEY STEVENS
011 784 1008 / 082 571 2313 ON BEHALF OF: PPC CONTACT: JOHN GOMERSALL TELEPHONE: (011) 488 1780

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