THE competition watchdog had rewarded Amcor with unconditional immunity after the box and plastic bottle maker exposed its illegal price-fixing deal with rival Visy Industries.
Amcor had previously won a conditional immunity from prosecution by the Australian Competition and Consumer Commission (ACCC) after it moved first to blow the whistle on the cartel.
Following last month’s resolution of the case against Visy and its billionaire owner Richard Pratt, the ACCC has now confirmed Amcor immunity is unconditional.
With Amcor’s cooperation, the watchdog secured an admission of cartel conduct by Visy, which was fined a record $36 million by the Federal Court.
Amcor chief Ken MacKenzie today welcomed the ACCC’s decision to grant the manufacturer unconditional immunity from prosecution over the cartel.
“Over the past three years, Amcor has implemented an extensive cultural change program and undertaken open and honest dialogue with our customers,” Mr MacKenzie said.
“An important first step in this process was replacing the former Amcor executives three years ago who were the subject of the investigation.”
But the fallout from the cartel has brought Visy and Amcor together again, with the pair now joined in a defence against a $300 million class action.
The packaging giants are being sued by more than 17,000 manufacturers, retailers and transporters who bought their products during the four-year period covering the price-fixing arrangements.
Lawyers launched the class action in April 2006 and the case returns to the Federal Court next March.
Amcor shares closed nine cents better at $7.04 today.
