Glanbia and Sligo Dairies have undertaken not to fix milk prices in a settlement of a Competition Authority civil action in the High Court, which alleged the two had engaged in anti-competitive practices.
Although no admission of guilt was made, the Competition Authority is satisfied with the outcome. Under legislation, Glanbia and Sligo would not have suffered any fine or punishment even if they were held in breach of competition law.
The Competition Authority started proceedings against Glanbia and Sligo in 1998, accusing them of entering into agreements to fix prices with a number of supermarkets.
The settlement, agreed last Friday, was announced yesterday by the Competition Authority.
Last December, Tesco settled a similar case, pledging not to help fix prices.
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