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New Zealand/Australia: NZ slaps $2.8M fine on neighbor’s cardboard cartel

By  |  August 23, 2013
New Zealand/Australia: NZ slaps $2.8M fine on neighbor’s cardboard cartel

New Zealand’s competition regulators announced Thursday the issuance of a $2.8 million fine on Australian packaging company Visy for forming a cartel fixing the price of its cardboard products. Visy has reportedly agreed to pay the fine and admitted to its participation in the cartel along with competitor Amcor. The admissions were part of a pre-trial agreement, according to the New Zealand Commerce Commission. The watchdog’s chairman applauded the case’s outcome, releasing a statement promoting the importance of preventing price-fixing.

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