MEPCO says favorable appeal ruling against GAC overturned

Middle East Paper Manufacturing and Production Co. (MEPCO) headquarters

Middle East Paper Manufacturing and Production Co. (MEPCO) said the Supreme Administrative Court overturned an appeal ruling in its favor against the General Authority for Competition (GAC), according to a statement to Tadawul.

The case has been referred back to the Administrative Court of Appeal in Makkah for a new ruling, the company added.

MEPCO expects to receive the Supreme Administrative Court’s ruling on April 16.

In January 2024, MEPCO announced that the Administrative Court of Appeal in Makkah issued a final judgment canceling a previous ruling and a fine of SAR 10 million against its wholly owned subsidiary, Waste Collection and Recycling Co. (WASCO), Argaam reported earlier.

According to the company’s capital increase prospectus, under legal risks, GAC had fined WASCO SAR 10 million for allegedly violating Article 5(1) of the Competition Law by colluding with competitors to set cardboard purchase prices.