PARIS (dpa-AFX) - Pernod Ricard (PDRDF.PK, PDRDY.PK, PRN.L), the French liqueur company, announced it had reached an agreement with China's Ministry of Commerce to adopt a minimum price undertaking, concluding the country's anti-dumping investigation into Cognac imports. The company clarified that the agreement does not constitute an admission of dumping practices.
While recognizing the added cost burden under the new pricing structure, Pernod Ricard noted that the incremental expenses are significantly lower than those that would have resulted from permanent anti-dumping tariffs.
As this process concludes, Pernod Ricard said it remains committed to long term sustainable growth in China, one of its four Must Win markets, leveraging its market leading position in Cognac, and in International Spirits, that it has successfully built over its decades long engagement in the country.
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