The Competition Commission said on Thursday that it was in the process of conducting a search and seizure operation at the premises of four electrical cables manufacturers on suspicion of price fixing, market allocation and collusive tendering.
The companies, Aberdare Cables, Alvern Cables, South Ocean Electric Wire Company, and Tulisa Cables, are all Gauteng based.
It follows a complaint initiated by the Commission on March 16, 2010.
The companies manufacture both high voltage cables for industrial use and low and medium voltage cables for households.
In terms of section 48 of the Competition Act, the Commission is authorised to enter and search premises and seize documents which have a bearing on an investigation.
Altron said in a statement to the JSE that both Power Technologies and Aberdare Cables' management are co-operating fully with the authorities and have taken the allegations made by the Competition Commission against Aberdare Cables on advisement with their external legal advisors.
Further communication to shareholders will be made once certain investigations have been completed, the company said
South Ocean Holdings, whose wholly owned subsidiary is South Ocean Electric Wire Company, also advised that SOEW is cooperating fully with the authorities.
It said it views the allegations made by the Commission in a serious light and will consult with its legal advisors.