Unilever denies price fixing

2011/03/25

In response to accusations of price fixing, Vice-President of Unilever China, Zeng Xiwen told the media that Unilever's price hikes were based on rising costs.

In addition to rising labor and raw material costs, Zeng highlighted the end to the preferential treatment for foreign firms as one factor driving up prices.

He also reemphasized that Unilever did not work with other manufacturers in pushing prices up for personal care products. As well, Zeng stated that the company would not rule out the possibility of raising product prices in the future, if costs of raw materials continue to climb.

(Source: CNTV.CN)