Corn Products Int'l Gets $58.4M In Damages
Stock quotes in this article:
CPO
WESTCHESTER, Ill. (AP) Corn Products International Inc. said Wednesday that it was awarded about $58.4 million in damages related to its claim that Mexico imposed a discriminatory tax on certain beverages.
The 2003 lawsuit submitted by Corn Products and its Mexican affiliate CPIngredientes SA de CV alleged that Mexico violated components of the North American Free Trade Agreement by placing a tax on beverages that contained high-fructose corn syrup. The damages awarded represent profit lost in Mexico due to the tax, accrued interest and certain CPIngredientes' out-of-pocket expenses. Shares of Corn Products, which refines corn for use in food and industrial products, fell 36 cents to $30.22 in morning trading.- Loading Comments...
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