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IACS settles EU antitrust case, offers commitments

Wed Oct 14, 2009 6:00am EDT

BRUSSELS, Oct 14 (Reuters) - European Union regulators ended their antitrust case against IACS on Wednesday after the trade group for ship inspection companies agreed to let rivals access its activities and technical data. IACS, the International Association of Classification Societies, had proposed the commitments after the European Commission raided several unidentified ship classifiers in January 2008 on suspicion of breaking EU antitrust rules.

"This paves the way for more competition in this market, which should generate lower prices, more customer choice and improved quality of service," EU Competition Commissioner Neelie Kroes said in a statement.

A person familiar with the situation had told Reuters on Friday that there would be no major changes to the commitments proposed by IACS.

The commitment decision, also known as an Article 9 decision, means IACS does not admit any illegal behaviour and pay no fine. Ship classifiers ensure that vessels are designed, constructed and maintained according to their standards. (Reporting by Foo Yun Chee; Editing by Dale Hudson)



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