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EU: Truckmakers face $4 billion euro price-fixing fine

By  |  February 24, 2015

Top European truckmakers face a fine of up to 4 billion euros for operating a cartel, German daily Handelsblatt reported, citing industry sources. Swedish truck maker Scania, Netherlands-based DAF and Italy’s Iveco face steep fines while German truckmakers Daimler and Sweden’s Volvo Trucks can hope for more lenient treatment because they cooperated with investigators.

In November, the European Union Commission said it had sent formal charge sheets to several truck manufacturers it suspected of price fixing.

Companies can be fined up to 10 percent of their annual revenue if the Commission concludes there is sufficient evidence of an infringement of EU rules barring cartels and the abuse of market dominance.

 

Full Content: Reuters

 

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