SETTLEMENT REACHED WITH EUROPEAN COMMISSION

RNS Number : 8342E

Unilever PLC

13 April 2011

 



UNILEVER REACHES SETTLEMENT WITH EUROPEAN COMMISSION ON LAUNDRY DETERGENTS

13 April 2011

Unilever has reached a settlement with the European Commission after its investigation into the implementation of the European detergents industry's Code of Good Environmental Practice. As part of the settlement, a payment of €104 million has been agreed. This amount falls within the provision made by Unilever in its 2010 results.

The settlement relates to the implementation of an industry-wide initiative to concentrate laundry detergents with proven benefits for the environment.  The Commission's investigation found that certain aspects of the implementation of this complex initiative infringed European competition rules.

Unilever believes it is in the best interests of the company for Unilever and the Commission to have reached this settlement. Unilever has used the findings from this investigation to strengthen further its internal compliance programme.  All key managers in Europe have been retrained on the European competition rules and are well placed to participate fully in industry-wide environmental initiatives.

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Safe Harbour

This document may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as 'expects', 'anticipates', 'intends', 'believes' or the negative of these terms and other similar expressions of future performance or results, including any financial objectives, and their negatives are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including, among others, competitive pricing and activities, economic slowdown, industry consolidation, access to credit markets, recruitment levels, reputational risks, commodity prices, continued availability of raw materials, prioritization of projects, consumption levels, costs, the ability to maintain and manage key customer relationships and supply chain sources, consumer demands, currency values, interest rates, the ability to integrate acquisitions and complete planned divestitures, the ability to complete planned restructuring activities, physical risks, environmental risks, the ability to manage regulatory, tax and legal matters and resolve pending matters within current estimates, legislative, fiscal and regulatory developments, political, economic and social conditions in the geographic markets where the Group operates and new or changed priorities of the Boards. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including the 20-F Report and the Annual Report and Accounts 2009. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

 

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