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Provider: MacroRisk Analytics/EconomicInvestor
Provider: Reuters Investment Profile
Provider: Pechala's Reports
Provider: Pechala's Reports

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Industrias Bachoco SAB de CV Receives Notification From Comision Federal de Competencia

Wednesday, 14 Nov 2012 11:33am EST 

Industrias Bachoco SAB de CV (Bachoco) announced that in December 2009, the Comision Federal de Competencia (CFC) announced an investigation on the Mexican poultry industry regarding possible monopolistic practices. The Company was included in the investigation and was required to provide information to the CFC. As a result of that investigation, Bachoco recently received a notice from CFC, stating that the Company conspired with other local producers and distributors to fix prices, a practice that is being prohibited in the poultry industry, in the region of Yucatan Peninsula. CFC imposed a fine of approximately USD 110,000 to Bachoco. The Company announced that it disagrees with this statement and proceeds with defense in terms established by the Mexican regulation. Additionally, the Company reports that it has issued a notice to the public today. 

Company Quote

-0.17 -0.29%
22 Aug 2014