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Jul 19, 2016

EUROPEAN TRUCKMAKERS * Fined with 3,32 billions Euros - ** Each country hauliers could sue too

* Belgium - EU to fine truck makers over price-fixing and other collusion 

--- The European Union’s antitrust regulator is poised to impose its largest cartel fine ever on Tuesday, handing truck makers around €3 billion ($3.32 billion) in penalties after a probe into price-fixing and other collusion, several people familiar with the matter said... The European Commission has been investigating a handful of European truck makers for around five years over suspicions they fixed prices and colluded on timing over when to implement new emissions control technologies... U.S. heavy-truck maker Paccar Inc. said earlier this year it put aside $942.6 million for the case. Paccar’s European unit, DAF, makes trucks in the Netherlands, Belgium and the U.K. and sells them in Western and Eastern Europe... Germany’s Daimler AG has also said it has provisioned for more than €600 million in connection with the probe, while Iveco, a unit of Netherlands-based CNH Industrial NV, in March said it had set aside around $500 million... Swedish truck maker Volvo AB in late June boosted its provision to a total of €650 million...
(PHOTO: AGENCE FRANCE-PRESSE/GETTY IMAGES - European Union members' flags in front of the European Parliament in Strasbourg)  --  Brussels, Belgium - The WSJ, by VALENTINA POP and NATALIA DROZDIAK - July 18, 2016


** Ireland - Truck makers may be sued by Irish hauliers in wake of fine 

--- European Commission fines Daimler, DAF, Iveco and Volvo/Renault over price fixing... Irish hauliers could sue the truck makers on which the EU yesterday imposed a record €2.9 billion fine for price fixing cartel between 1997 and 2011... Volkswagen-owned MAN was also involved in the scheme, but escaped a penalty because it tipped off the commission to the cartel’s existence... Under European law, Irish trucking companies that bought vehicles made by any of the companies during the period can sue the manufacturers if they believe they suffered damage as a result of the price fixing... President of Irish Road Hauliers’ Association Verona Murphy confirmed that new legislation due to come into force in the Republic by the end of this year would make it easier for anyone in this jurisdiction to take action against the companies found guilty of price fixing... Ms Murphy explained the new law, an EU directive, is due to come into force here by December 27th this year. It will allow Irish people to sue in the Republic’s courts on foot of rulings by other European competition authorities... 
Dublin, Ireland - Irish Times, by Barry O'Halloran - Jul 19, 2016

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