Australian packaging group Amcor said today (22 July) that it had agreed its lawsuit with Cadbury after the confectioner sued for A$236m (US$192.3m) for over-charging on materials.
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Amcor was sued by Cadbury in 2004 after the packaging group’s board told Australia’s competition regulator that employees were involved in price-fixing with rival Visy Group.
The Australian Competition and Consumer Commission (ACCC) discovered collusion between Amcor and Visy that spanned for almost five years.
Visy founder Richard Pratt got an A$36m fine for his company’s role. Amcor was not penalised after receiving immunity as a whistle- blower from the ACCC.
Hearings over the Cadbury lawsuit were due to kick off at a Federal Court in Melbourne today.
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By GlobalDataAmcor said the agreement with Cadbury was “expected to have no material impact” on its financial position. It said a further announcement would be made when “terms are finalised”.
