Lafarge Industries South Africa (Pty) Ltd., a wholly owned subsidiary of French cement maker Lafarge, will pay a $19.5-million penalty after admitting to charges of price fixing and market manipulation in southern Africa.
South Africa's Competition Commission said Lafarge has owned up to its participation in a cement cartel in southern Africa and agreed to pay the penalty, which represents 6% of its 2010 business revenue in the five countries that form the Southern African Customs Union: South Africa, Botswana, Lesotho, Swaziland and Namibia.