SOL & SSL: Sasol Limited - Receipt of Statement of Objections From European Commission After Investigation Into the Paraffin Wax
June 04 2007 - 1:04PM
PR Newswire (US)
JOHANNESBURG, South Africa, June 4 /PRNewswire-FirstCall/ -- 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 Sasol
Wax. In Sasol's financial year 2005/06, Sasol Wax had an operating
profit of Euro 35,4 million, representing 1,3% of Sasol group
operating profit. Sasol Investor Relations Tel.: +27 11 441
3113/3563/3321 Forward-looking statements: In this announcement we
make certain statements that are not historical facts and relate to
analyses and other information based on forecasts of future results
not yet determinable, relating, amongst other things, to exchange
rate fluctuations, volume growth, increases in market share, total
shareholder return and cost reductions. These are forward-looking
statements as defined in the United States Private Securities
Litigation Reform Act of 1995. Words such as "believe",
"anticipate", "intend", "seek", "will", "plan", "could", "may",
"endeavour" and "project" and similar expressions are intended to
identify such forward- looking statements, but are not the
exclusive means of identifying such statements. Forward-looking
statements involve inherent risks and uncertainties and, if one or
more of these risks materialise, or should underlying assumptions
prove incorrect, actual results may be very different from those
anticipated. The factors that could cause our actual results to
differ materially from such forward-looking statements are
discussed more fully in our most recent annual report under the
Securities Exchange Act of 1934 on Form 20-F filed on 2 November
2006 and in other filings with the United States Securities and
Exchange Commission. Forward-looking statements apply only as of
the date on which they are made, and Sasol does not undertake any
obligation to update or revise any of them, whether as a result of
new information, future events or otherwise. DATASOURCE: Sasol Ltd.
CONTACT: Sasol Investor Relations, +27-11-441-3113,
+27-11-441-3563, +27-11-441-3321
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