September 27, 2017 / 9:30 AM / a year ago

EU regulators fine Scania 880 mln euros for truckmakers cartel

BRUSSELS, Sept 27 (Reuters) - EU antitrust regulators fined German carmaker Volkswagen unit Scania 880 million euros ($1.03 billion) on Wednesday for taking part in a truckmakers cartel which resulted in a record 2.9-billion-euro fine for four companies in July.

The European Commission said Scania colluded for 14 years with the other cartel members on truck pricing and on passing on the costs of new technologies to meet stricter emission rules.

Volkswagen’s MAN, Daimler, Volvo, Iveco and DAF admitted to taking part in the cartel in return for a 10 percent cut in their fines. Scania did not settle.

$1 = 0.8516 euros Reporting by Foo Yun Chee, editing by Julia Fioretti

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