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Danone SA sets terms for continued partnership with Fonterra and initiates legal proceedings

Wednesday, 8 Jan 2014 02:00pm EST 

Danone SA:Terminates its existing supply contract with Fonterra and makes any further collaboration contingent on a commitment by its supplier to full transparency and compliance with the food safety procedures applied to all products supplied to the company.Initiates proceedings in the New Zealand High Court, as well as arbitration proceedings in Singapore to bring all facts to light and to obtain compensation.Says the legal proceedings concern the harm the company's has suffered due to an alert concerning a possible contamination of certain ingredients supplied to Danone, later on revealed to be false. 

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-0.11 -0.20%
28 Aug 2015