Coca-Cola Amatil's (ASX: CCL) failing food processing business, SPC Ardmona, is celebrating a major regulatory win this week. According to a press release issued Wednesday, Australia's Anti-Dumping commission has commenced investigations into trade dumping for both peaches and tomatoes.
"This news validates the hard work we have undertaken over the last few months on our plans to revitalise our company," said Managing Director Peter Kelly in a statement. "We are determined to fight for our business in the Goulburn Valley and the future of Australian food processing. We believe we have a very clear case for Anti-Dumping measures and it's encouraging that the Government has deemed there to be enough evidence to warrant a formal investigation."
Kelly pointed to New Zealand as a success case for anti-dumping measures protecting its own fruit and vegetable industries, and noted that his company's continued operation is "critical" for Victoria's Goulburn Valley region.
Although the initiation of a regulatory review is welcome news in and of itself, the commission's announcement makes SPC Ardmona's claims the first to be investigated by the newly formed government body.
Looking ahead, Kelly noted that he and SPC Ardmona are "hopeful that the new streamlined process and the Minister's new team will provide a fair outcome for our industry."
If you can't wait for tariffs to pull through, The Australian Financial Review says "good quality Australian shares that have a long history of paying dividends are a real alternative to a term deposit." Get "3 Stocks for the Great Dividend Boom" in our special FREE report. Click here now to find out the names, stock symbols, and full research for our three favourite income ideas, all completely free!
More reading
Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.
