| Contact Us | About UsAdvertisement | 
Weather Forecast









companies

















European Commission examining evidence of cartel in SKF business
Tuesday, 08 November 2011
Swedish bearings manufacturer, SKF has had a poke from the EU's competition authority.
The European Commission on Tuesday visited SKF's facilities in Gothenburg and in Germany Schweinfurt, to gather information for an investigation into possible anti-competitive collusion between some manufacturers of bearings.

"SKF has a strict "Code of Conduct" which prohibits unlawful competition, cooperation, and will cooperate fully with the European Commission during the investigation process, "the company said in a statement.

Advertisement







The commission can impose a maximum fine of 10 percent of a company's total annual turnover if it finds that the company bridge the competition rule. Any fines provided, will be based on the duration of the competition authority deem the crime might have taken place. This would surely hit the company’s to customers and the rest of the economy.

The inspections are the first step in the investigation of an alleged cartel but it does not mean that company is guilty of infringement of competition. It has the right to defend itself in various ways, for example, at a hearing.

No strict time limits exist for the Commission's cartel investigations to last, in contrast to investigations of mergers. The length depends on various factors such as complexity of the case, their cooperation and how they exercise their rights of defence.
By Scancomark.se Team





































| Print Friendly and PDF| Write to the editor | Complaint about this article | Make a Comment |


What do you think about the above article? Please leave us a comment and reaction. Thank you.
  • Should be Empty: