China fines Swiss-based packager Tetra Pak for breaking monopoly rules

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Investec
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Tetra Pak crumpled - Click to enlarge

According to Reuters, following an investigation, China’s State Administration for Industry and Commerce (SAIC) said, it found out that Tetra Pak violated some provisions in China’s anti-trust law and will impose a fine of 668 million yuan ($97 million) on Tetra Pak for “abuse of dominant market position”.

The Shanghai Daily said, SAIC found that Tetra Pak had broken anti-monopoly regulations such as abusing its monopolistic status to force customers to purchase packaging materials and had also barred other packaging raw material suppliers from providing materials to its rivals.

Swiss-based Tetra Pak said: “We are disappointed with the decision but have decided to accept it and do not intend to appeal,” says Chris Huntley, spokesperson for the Tetra Pak Group.

“We are grateful for our customers’ trust. Our commitment to providing them, and Chinese consumers, with safe and reliable packaging remains as strong as ever. We are moving forward with our business in China,” says Huntley.

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Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.

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