EU fines Scania 880 million euros
EU competition regulators have fined Scania 880 m euros for taking part in a truck makers cartel that resulted in a record 2.9 bn euro fine for four companies in July.
The European Commission said the Volkswagen-owned truck maker 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.
MAN, which is also owned by Volkswagen, Daimler, Volvo, Iveco and DAF admitted to taking part in the cartel in return for a 10% cut in their fines. Scania did not settle.