EU Raids Top Truck Makers in Cartel Investigation

Topics:  Daimler AG, Iveco, MAN, Scania, Volvo

VOA Breaking News (Voice of America)
January 18, 2011 at 8:40 pm

EU authorities launched a series of raids on major European truck makers on Tuesday as part of an investigation into whether the companies colluded in forming a cartel.

The European Commission is investigating Germany's Daimler and MAN, Sweden's Volvo and Scania, and Iveco trucks owned by Italy's Fiat Industrial.

A commission statement confirmed Tuesday that it had undertaken “unannounced inspections” of the companies that it believed may have violated EU antitrust rules.

The five truck makers confirmed their offices had been searched and they were under investigation.

The commission statement said the inspections were a preliminary step into suspected anti-competitive practices, but did not mean that the companies were guilty of anti-competitive behavior.