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Swedish truckmaker Scania appeals $1.03 billion EU fine for alleged price-fixing

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Swedish truckmaker Scania appeals $1.03 billion EU fine for alleged price-fixing
A Scania building in Södertälje. Photo: Christine Olsson/TT
07:19 CET+01:00
Swedish truckmaker Scania said on Tuesday it had appealed against an 880 million euro ($1.03 billion) fine imposed by the European Commission for alleged price-fixing and attempts to dodge costs for stricter pollution rules.

Scania, owned by German auto giant Volkswagen, was the only holdout in the European Union's massive cartel case in which five other truck builders admitted to wrongdoing and jointly received a record fine of three billion euros.

"Scania has not entered into any pan-European agreement with other manufacturers with regard to pricing. Also, the company has not delayed the introduction of new engines compliant with EU legislation for exhaust emissions," the company said in a statement.

"Scania has been cooperating fully with the European Commission by providing it with requested information and explanations throughout the entire investigation period," it added.

Daimler, DAF, Iveco, MAN and Volvo/Renault were hit with fines in July 2016. Along with Scania, they account for nine out of every 10 trucks sold in Europe.

The total penalty inflicted by Brussels against the truckmakers, including Scania, hit 3.8 billion euros, according to the European Commission, the EU's antitrust regulator.

Senior managers from Daimler, DAF, Iveco, MAN and Volvo/Renault hatched the plan at a secret meeting in a "cosy" Brussels hotel, the commission said.

Germany's MAN tipped off the European Commission about the collusion at the highest level, triggering an investigation that began with raids on large truck manufacturers in 2011.

The charge sheet includes accusations of price-fixing, but also alleges the existence of a secret agreement by the companies to delay and then pass on the costs of anti-pollution technology to consumers.

READ ALSO: Scania in EU competition probe

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