TATE & LYLE ETC
August 1st, 2001
BY KEITH NUTHALL
BRITISH Sugar, Napier Brown and Tate & Lyle have failed to persuade the European Court of Justice to lift heavy fines imposed by the European Commission in 1998 over allegations of illegal concerted practice and agreements over sugar prices. Although judges reduced the fines payable by Tate& Lyle from Euro 7 million to 5.6 million, they refused to amend the Euro 39.6 million, (set at the time in ECUs'), set for British Sugar and the Euro 1.8 million for Napier Brown.
BRITISH Sugar, Napier Brown and Tate & Lyle have failed to persuade the European Court of Justice to lift heavy fines imposed by the European Commission in 1998 over allegations of illegal concerted practice and agreements over sugar prices. Although judges reduced the fines payable by Tate& Lyle from Euro 7 million to 5.6 million, they refused to amend the Euro 39.6 million, (set at the time in ECUs'), set for British Sugar and the Euro 1.8 million for Napier Brown.
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