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News Breaks | | | | November 14, 2012 | | 11:32 EDT |  | IBA | Bachoco fined approximately $110,000
Industrias Bachoco announced: In December 2009, Mexico's Federal Commission of Economic Competition announced an investigation of the Mexican poultry industry regarding possible monopolistic business practices. Bachoco was included in this investigation, and has been required to provide information to the commission since then. Recently, and as a result of this investigation, the company received a notification where the CFC determined that Bachoco contributed with other local producers and distributors to fix prices, in the Peninsula de Yucatan region, and imposed a fine for approximately $110,000. Bachoco does not agree with this determination, and will defend itself according to the provisions of Mexican law. Bachoco says it is committed to free market principles and regulatory compliance. | |
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