A PYMNTS Company

US: Seller of Chinese construction equipment files antitrust suit

By  |  January 29, 2015

International Construction Products has filed an antitrust lawsuit against the three biggest names in construction equipment, accusing them of colluding to limit competition in the U.S. The suit was filed this morning in a U.S. District Court in Wilmington, Delaware, and names Caterpillar, Komatsu America and Volvo Construction Equipment North America as defendants.

The suit alleges the three major manufacturers conspired to exclude ICP from the U.S.market by effectively dismantling its primary distribution channel: online sales. It claims that Cat, Komatsu and Volvo, “conspired to first eliminate, and then forever bar, ICP’s access to IronPlanet,” by threatening to boycott the site if it sold ICP-represented equipment.

ICP is seeking both compensatory and punitive monetary damages as well as a court order to unwind the IronPlanet/Cat Auction Services merger. The suit also seeks an elimination of exclusivity agreements between Cat, Komatsu and Volvo and their dealers.

Full Content: The Wall Street Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.