NOTIFICATION: The Technology Channels is now an automated compilation of industry press releases.
Click here to download complimentary copies of Fastmarkets RISI’s pulp and paper newsletters.

 

Australian packaging producer Visy fined in New Zealand cartel case

Read so far

Australian packaging producer Visy fined in New Zealand cartel case

September 19, 2013 - 18:05

BRISBANE, Sept. 20, 2013 (PPI Asia) -The High Court of New Zealand has settled with Australian packaging giant Visy regarding cartel activity there in 2000-2004.

The settlement will see Visy pay a NZ$3.6 million ($3 million) fine.

In early 2011, Visy and Amcor both admitted the existence of a cartel arrangement favoring them in Australia, and paid millions of dollars in damages there.

Visy and one of its liable executives had initially claimed that the cartel agreement did not extend to the neighboring New Zealand market, which is largely dominated by the two firms as well as by domestic firm Carter Holt Harvey.

But the court found that as deals for New Zealand customers were largely concluded in Australia, where Amcor and Visy created their cartel around the year 2000, New Zealand customers were also victimized.

Amcor reported itself to the authorities, and has not been fined in New Zealand.