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ANTIMONOPOLY COMMISSION OF ARMENIA FINED THE COMPANY "ALEX GRIG" IN THE AMOUNT OF 500 THOUSAND DRAMS
/ARKA/
May 13, 2011
YEREVAN
YEREVAN, May 13. /ARKA/. On Friday, Commission on the Protection of
Economic Competition (SCPEC) decided to fine the company "Alex Grig"
in the amount of 500 thousand drams.
The company "Alex Grig" should have submitted information on buying
and selling prices of dairy butter and vegetable oil to the Commission
and the basis for price increase of the sold products.
During the study of a number of consumer markets, SCPEC recognized the
fact of law violation and noted that the company is obliged to provide
the required documents. However, the documents are not provided yet
which is considered violation of law.
According to the amendments in the law "On the protection of economic
competition" which will be effective after the implementation of
relevant procedures, the size of the penalty will be 5 million drams.
On April 20, SCPEC adopted decision on instituting administrative
case against the company "Alex Grig" occupying leading position in
dairy butter and vegetable oil markets.
The Commission required also information from other entities of the
given market with the aim of detecting structural changes in it.
According to the studies in 2010, "Alex Grig" Ltd. belonging to
parliament member Samvel Aleksanyan occupies one-third of dairy butter
market (34.5%), The share of the company in vegetable and corn oil
markets is 37.5%.($1 - 372.92 drams).
From: Emil Lazarian | Ararat NewsPress
/ARKA/
May 13, 2011
YEREVAN
YEREVAN, May 13. /ARKA/. On Friday, Commission on the Protection of
Economic Competition (SCPEC) decided to fine the company "Alex Grig"
in the amount of 500 thousand drams.
The company "Alex Grig" should have submitted information on buying
and selling prices of dairy butter and vegetable oil to the Commission
and the basis for price increase of the sold products.
During the study of a number of consumer markets, SCPEC recognized the
fact of law violation and noted that the company is obliged to provide
the required documents. However, the documents are not provided yet
which is considered violation of law.
According to the amendments in the law "On the protection of economic
competition" which will be effective after the implementation of
relevant procedures, the size of the penalty will be 5 million drams.
On April 20, SCPEC adopted decision on instituting administrative
case against the company "Alex Grig" occupying leading position in
dairy butter and vegetable oil markets.
The Commission required also information from other entities of the
given market with the aim of detecting structural changes in it.
According to the studies in 2010, "Alex Grig" Ltd. belonging to
parliament member Samvel Aleksanyan occupies one-third of dairy butter
market (34.5%), The share of the company in vegetable and corn oil
markets is 37.5%.($1 - 372.92 drams).
From: Emil Lazarian | Ararat NewsPress