Winnipeg Free Press - PRINT EDITION
Arctic Glacier settles anti-trust suit
A subsidiary of Winnipeg packaged ice company Arctic Glacier Income Fund announced Friday that it has reached an agreement with authorities in Michigan to resolve allegations that it violated the state's antitrust laws.
Under the agreement, Arctic Glacier International Inc. makes no admission of wrongdoing, but the company will pay a total of $350,000 in two instalments by the end of the year.
"The settlement concludes and resolves all investigations, inquiries, claims and proceedings by the Michigan Attorney General related to any alleged violations of applicable state and federal antitrust laws," the company said in a statement Friday.
"Arctic Glacier takes its obligation and commitment to abide by all laws, and specifically competition laws, very seriously," it added.
"The company has reinforced its ongoing competition compliance program, which requires all managers and staff to fully comply with such requirements at all times," it said, adding that it has adopted a company-wide system of training and education.
In 2009, the U.S. subsidiary agreed to pay $9 million in a deal with the U.S. Department of Justice to settle antitrust charges related to the packaged ice business in southeastern Michigan and the Detroit area.
Arctic Glacier Income Fund, through its operating company, Arctic Glacier Inc., is a producer, marketer and distributor of high-quality packaged ice in North America.
It operates 39 production plants and 48 distribution facilities across Canada and the northeast, central and western United States.
Arctic Glacier units closed up 15 cents, or nine per cent, at $1.80 on the Toronto Stock Exchange Friday.
-- The Canadian Press
Republished from the Winnipeg Free Press print edition September 4, 2010 B5
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