Raid for collusion: raid in the car industry – FAZ – Frankfurter Allgemeine Zeitung

steel is the main material in the auto industry.

the Bundeskartellamt after suspected illegal agreements on purchase of steel in the German automotive and automotive supplier industry. Authority officials have therefore n 23 June, six companies in the industry searches, a spokesman of the Federal Cartel Office on Tuesday. Names of the companies did not mention the authority as usual. The automaker Volkswagen, Daimler and BMW admitted on demand, to have been searched. The supplier ZF and Bosch were target of raids.

At the searches, which were at the same time on June 23 on the stage, was reported by competition authorities 50 employees of the authority concerned. Search warrants set an initial suspicion for an antitrust infringement ahead but until they finish the process, the presumption of innocence.

Cartel searches car companies – Possible agreements with steel Shopping

confirmed the suspicion of the competition authorities, they can react with high fines. Theoretically prosecute with up to ten percent of their annual turnover, the Antimonopoly companies – in practice, the Authority does not draw this framework but from. The specific amount of the fine depends on the gravity and duration of action. Record fines at a height of over 700 million Euro imposed the authority around 2003 against the members of a cement cartel. Courts reduced the penal sum but later significantly to around 400 million euros.

For the Volkswagen Group, the investigations come at the wrong time. The Wolfsburg continue to fight with the effects of exhaust affair. But the settlement of the diesel scandal in the United States cost the carmaker more than 15 billion dollars.

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