BPI.L Regulatory News (BPI)

30 Nov 2005 12:50

British Polythene Industries PLC30 November 2005 30 November 2005 BRITISH POLYTHENE INDUSTRIES PLC (BPI) Announcement of European Commission Decision BPI avoids European Commission fine The European Commission has announced today its decision in its inquiry inrelation to industrial plastic bags. It has confirmed that although companieswithin the BPI Group had been involved in infringing activity, as a result of asuccessful application by BPI for leniency, the penalty which would otherwisehave been imposed on the Group has been reduced by 100% to nil. As previously reported, the BPI Group has been involved in two separateinquiries by the European Commission into infringements of competition law. Thefirst inquiry into BPI and a number of its competitors was initiated by theCommission in August 2001 and related to the agricultural and industrial plasticfilm market. Following the initiation of this inquiry, BPI conducted acomprehensive competition compliance audit, which led to it uncovering certainanti-competitive practices in its industrial bags businesses in mainland Europefrom 1982 until end 2001. The BPI Group acquired the businesses involved in1997. BPI disclosed this evidence to the European Commission as part of aformal application for leniency in November 2001 under the Commission's leniency/whistleblowing programme. As a result of information provided by BPI to theCommission, a second inquiry began relating to industrial plastic bags. BPI hascooperated fully with the Commission since then. Commenting on the decision, Chairman of BPI, Cameron McLatchie said: "It is gratifying that, after so many years of uncertainty, hard work andco-operation with the Commission, the Group has been granted full immunity. Wehope that this marks the end of the matter. BPI is fully committed to ongoingcompliance with competition law." In connection with the matter which led to the original inquiry, the Commissionhas not contacted BPI to pursue this inquiry since the Company made its leniencyapplication in November 2001 and offered its full co-operation. There is,however, no time limit within which the Commission must raise proceedings if itwishes to pursue this original inquiry. ENDS EnquiriesCameron McLatchie, Chairman, British Polythene Industries PLC 01475 501000Tim Spratt/Caroline Wells, Financial Dynamics 020 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange