European Commission slaps $670 million fines on cartels

Posted On: Feb. 22, 2018 5:08 AM CST

The European Commission has fined four maritime car carriers and three car-parts suppliers a total of €546 million ($670 million) in three separate cartel settlements, Independent.ie reported. The commission imposed a €395-million fine on Chilean maritime carrier Companía Sud Americana de Vapores S.A, Japanese carriers K Line Ship Management Co. Ltd. and Nippon Yusen KK and Norway-based WWL-EUKOR. The commission also fined automotive firms Germany-based Robert Bosch GmbH and Japan-based NGK Spark Plug Co. Ltd. €76 million. Additionally, the commission imposed a €75-million fine on Robert Bosch and Germany-based Continental A.G.