Arjo subsidiary to fight fixing allegations

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Arjo Wiggins Appleton said yesterday its US subsidiary, Appleton Papers, would defend itself vigorously against charges that it conspired with certain of its competitors to fix the price of thermal fax paper in a period up to 1991.

Appleton Papers was formally indicted yesterday but had known it was the subject of a Department of Justice investigation since March 1994. Arjo said any ultimate liability should not have a material adverse effect on the group's balance sheet. The shares fell 4p to 157p.