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Commission levies €1bn fine over car parts cartel

19.03.14 @ 14:59

  1. By EUOBSERVER

The European Commission has fined two EU and four Japanese companies more than €953 million for rigging the market in automative bearings used to reduce friction in cars and trucks. The firms, which include Swedish company SKF and German Schaeffler, had fixed their prices between 2004 and 2011.