Following the raids of banana and pineapple companies by EU officials investigating possible price-fixing, Chiquita Brands International has announced additional information regarding previously disclosed conduct by some of its employees in relation to laws governing trade regulation.
The company is co-operating with the investigation that the European Commission is conducting among producers and distributors of bananas and pineapples for possible violations of European competition law.
A Chiquita statement said: “As a result of Chiquita’s internal compliance program, the company's management recently became aware that certain of its employees had shared pricing and volume information over many years with competitors in Europe, and may have engaged in other conduct, in violation of European competition laws and company policies.
“The company promptly stopped the conduct and, after consultation with the board of directors, notified the European Commission of these matters. The company will continue to cooperate with the related investigation.
“Based on the company's voluntary notification and c-ooperation with the investigation, the European Commission has granted Chiquita immunity from any fines related to the conduct, conditioned on the company's continued co-operation, among other things. The company does not believe that the reporting of these matters or the cessation of the conduct should have any material adverse effect on the regulatory or competitive environment in which the company operates, although there can be no assurance in this regard.”
As a result of its own investigation of the conduct described above, Chiquita’s management also became aware that certain of its employees in one Latin American country shared information with competitors regarding the volume of fruit shipped from that country to North America. While the company does not believe that such conduct had any anticompetitive effects, it has discontinued the conduct and notified the appropriate regulatory authorities in the United States and Canada. “The company intends to co-operate fully should any governmental inquiry or investigation be undertaken in the United States or Canada,” said Chiquita.
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