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Nov 26, 2014

TRUCKMAKERS NEWS * CARTELIZATION IN EUROPE: ° Sweden - * Germany

* Sweden - Truck maker Volvo sets aside funds for EU cartel probe

Stockholm,Sweden -DPA/Europe Online -25 Nov 2014: -- Swedish heavy vehicle maker Volvo said Tuesday it had made a provision of 400 million euros (497 million dollars) for a possible fine by the European Commission, which is investigating truck makers suspected of cartel activities... The EU executive last week said it was investigating several truck makers over a suspected cartel in violation of EU competition law. The firms risk sizeable fines... Volvo on Thursday said it was one of the firms that had been notified of the probe, which opened early 2011... As part of the process, the truck makers will have a chance to respond to issues raised by the EU in statements of objections - letters informing companies of the complaints against them... Volvo said Tuesday proceedings were "still at an early stage", adding that the provision will affect fourth quarter operating income...


* Germany - MAN says not making provision for EU antitrust probe

Frankfurt,Germany -Reuters -Nov 26, 2014: -- German truck maker MAN said on Wednesday it would not set aside any money to cover potential costs related to an antitrust investigation into the industry by the European Commission... Earlier, German daily Frankfurter Allgemeine Zeitung said the Volkswagen-controlled company would not be fined in connection with the cartel investigation... MAN would gain antitrust immunity as it approached authorities in 2010 with information that triggered the investigation, FAZ said, without citing sources...

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