December 12, 2017 / 4:25 PM / 2 years ago

VW's truckmaker Scania appeals 880 million euro fine for price fixing

FILE PHOTO: The logo of Swedish truck maker Scania is pictured at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer

STOCKHOLM (Reuters) - Swedish truckmaker Scania said on Tuesday it had filed an appeal against a decision by the European Commission to fine it 880 million euros ($1 billion) for taking part in a price fixing cartel.

The European Commission announced the fine in September, saying Scania had colluded with five peers, fixing vehicle prices to enable them to pass the costs of required environmental improvements on to customers.

“In the appeal, Scania contests the findings and allegations made in the Commission’s decision,” Volkswagen-owned (VOWG_p.DE) Scania said in a statement.

In July, Volkswagen’s MAN, Daimler (DAIGn.DE), Volvo (VOLVb.ST), Iveco (CNHI.MI) and DAF (PCAR.O) admitted to taking part in the cartel in return for a 10 percent cut in their fines. Scania did not settle.

Reporting by Anna Ringstrom; editing by Johan Ahlander

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below