It was agreed that Valio had used its dominant market position to lower the prices for the purchase of raw milk. The court confirmed the fine of € 70 million.
Weight Kaunisto, Chairman of the Board of Directors of Valio, says that this decision will not affect the price paid for raw milk to farmers. The decision means that the competitors of Valio will be able to claim damages in the district court of Helsinki. The trial is likely to last for several years.
"To a certain time, a strong equity and cash Valio will serve as a buffer. In the next 10 years we will have to reconsider our investment projects in Finland", says Kaunisto.
The price that Valio pays farmers for raw milk, depends on the success of Valio products in Finland, Sweden and other markets, from global prices for dairy ingredients (whey and oil for the food industry) and economic efficiency of activity of the company.
"We are disappointed by the decision, but the matter is now closed. We will continue to develop further, focus on our strengths: responsible production of dairy products, creating world-class innovation, such as lactic salt Valio ValSa:registered: on developing and selling attractive products for the consumer of snacks with reduced sugar and high protein content, which benefit the inhabitants of Finland and other countries", — said Annika Persimmon, CEO of Valio.
About the company:
The concern Valio is a leader in the field of milk production and processing in Finland. The main activity of the company in Russia to date – the production and sale of products manufactured on a single native plant in Russia and partnership enterprises, and imports of non-dairy and lactose-free products to the Russian market.
Translated by service "Yandex.Translation"
