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Anti-trust/Competition * Mexico - Mexican Competition Commission Fines Trucking Industry for Price Fixing
City of Mexico,DF,Mexico -Jones Day, by Javier Martínez Del Campo L., Manuel Romano and Jesús Gabriel Altamirano -25 June 2010: -- On June 14, 2010, the Mexican Federal Competition Commission (also known as Cofeco or CFC) announced its decision to fine a group of companies and individuals in the trucking industry, whom Cofeco charged with agreeing to impose a standard fuel surcharge, in violation of Mexican antitrust law... Following a two-year investigation, Cofeco found that the National Chamber of Cargo Transportation (Canacar) and representatives of trucking companies had formed an agreement to impose a standard fuel adjustment surcharge on cargo shippers. The surcharge was an attempt to recover increased costs of diesel fuel, for which government-approved prices have risen... Cofeco viewed the agreement on the surcharge as a clear violation of Mexican law... Cofeco imposed fines totaling more than Pesos $30 million (about US $2.4 million) on Canacar, five trucking companies, and five individuals, and it ordered them to suspend the illegal practice... (Photo: Trucks at Mexico/USA border)Labels: Penalties
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