SPAIN: Ebro to pay compensation for fixing sugar prices
Ebro Foods is to pay over EUR4m (US$5.4m) to manufacturers including Nestle for fixing the price of sugar in Spain in the 1990s.
According to local reports, Spain's Supreme Court has ruled Ebro must pay EUR4.1m to 14 customers for, along with others in the sugar sector, fixing prices between February 1995 and September 1996.
A report from the Europa Press news agency said the customers including Nestle and Wrigley. Nestle will receive EUR1.5m of the compensation, the report said.
When contacted by just-food, Ebro said the company "did not comment on legal resolutions".
However, it added the case dated back to businesses no longer part of the company. Ebro sold its sugar arm to Associated British Foods in 2008.
Spanish food group Ebro Foods has forecast a 12% rise in earnings in 2014....
Plimsoll Publishing’s MANUFACTURE OF PASTA & NOODLES (Germany) Analysis provides a detailed overview of the MANUFACTURE OF PASTA & NOODLES (Germany) market and delivers a comprehensive individual anal...
- Why "simple" and "real" will be industry buzzwords
- Nestle's 2014 results: 10 Things to Learn
- On the money: Can Danone grow fresh dairy?
- Maspex: M&A opportunities in eastern Europe
- Why US Dietary Guidelines report deserves praise
- Kerry Group CEO expects more M&A in 2015
- Gruma FY earnings surge as margins improve
- Kerry sales, earnings rise but food weighs
- ABF continues to expect profit drop
- Irish Dairy Board to change name to Ornua