July 10, 2014
Armenia’s State Commission for protection of Economic Competition has imposed a fine of 1% of the revenue on Tsaritsino meat processing factory for unfair competition, the press office of the commission reported.
During its studies, the antitrust commission found out a case of unfair competition in the market. In particular, Tsaritsino meat processing factory disseminated an add saying the factory’s products are made only from fresh local meat and natural ingredients.
Based on customer complaints, the commission requested the factory to provide information about ingredients involved in pricing and the respective procurement documentation. After having studied the information, the commission found out the ad is not true as no justification was provided on local raw meat procurements, says the report.
The commission has repeatedly urged companies to provide only reliable and full information to customers about products.
Bearing in mind a number of criteria in the legislation, the antitrust commission has decided to impose a fine of 1% of the revenue on Tsaritsino meat processing factory and bind the company to rule out the violation and relabel the products.
(ARKA)