15th Oct 2008 12:52
Stock Exchange Announcement
European anti-trust Decision - Successful outcome for Fyffes
The European Commission has announced today that it has adopted a Decision following the conclusion of its investigation into the supply of bananas to the Northern European region of the EEA. Following the Commission's press release and mid-day briefing, Fyffes plc understands it has not been found to have breached EU Competition Rules and no fine has been imposed on it.
Fyffes plc confirms that its German joint venture, Internationale Fruchtimport Gesellschaft Weichert & Co KG ("Weichert") was today notified by the European Commission that it has adopted a Decision and finds Fresh Del Monte Produce Inc ("Del Monte") and Weichert jointly and severally liable for fines of €14.7m for breaches of Article 81 of the Treaty of Rome and Article 53 of the European Economic Area (EEA) Agreement relating to the supply of bananas to the Northern European region of the EEA (Germany, Austria, Belgium, the Netherlands, Luxembourg, Sweden, Finland and Denmark).
The infringement set out in the Decision covers the period 1 January 2000 to December 2002. Fyffes acquired its 80% interest in Weichert on 1 January 2003.
As noted by the Commission in its press briefing, Weichert was controlled by Del Monte throughout the period covered by the Decision.
Fyffes plc
15 October 2008
For further information, please contact:
Brian Bell, Wilson Hartnell PR - Tel: +353-1-669-0030
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