Dole to Appeal EU General Court Decision
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Dole Food Company, Inc. (NYS: DOLE) today announced the decision by the EU General Court affirming the European Commission's fine of € 45.6 million, for alleged anticompetitive information exchanges involving Dole Fresh Fruit Europe OHG and other EU banana importers in Germany 10 years ago.
"The General Court's decision treats discussions about general market conditions the same as a price fixing cartel," said C. Michael Carter, Dole's President and Chief Operating Officer. "We strongly believe that the European competition laws were not violated and we will appeal this decision to the EU Court of Justice."
Dole Food Company, with 2012 revenues of $4.2 billion, is one of the world's largest producers and marketers of high-quality fresh fruit and fresh vegetables. Dole is an industry leader in many of the products it sells, as well as in nutrition education and research. For more information, please visit www.dole.com or http://investors.dole.com
This release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Forward looking statements, which are based on management's current expectations, are generally identifiable by the use of terms such as "may," "will," "expects," "believes," "intends," "anticipates" and similar expressions. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include weather-related phenomena; market responses to industry volume pressures; product and raw materials supplies and pricing; energy supply and pricing; changes in interest and currency exchange rates; economic crises and security risks in developing countries; international conflict; and quotas, tariffs and other governmental actions. Further information on the factors that could affect Dole's financial results is included in its SEC filings, including its Annual Report on Form 10-K.
Dole Food Company, Inc.
Marty Ordman, (818) 874-4834
KEYWORDS: United States Europe North America California Germany
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