Dole Food faces fine in European market

by Staff
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WESTLAKE VILLAGE, CALIF. — The European Commission has imposed a fine of €45.6 million ($79.9 million) against Dole Food Co., Inc. for anticompetitive information exchanges in the European banana market. The E.U. also fined other European banana importers for the same reason.

The investigation originally began in June 2005, and Dole could have faced a fine of up to 10% of its worldwide revenues, which would amount to $693 million.

Dole said it intends to appeal the decision.

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