German carmakers fined for anti-trust activity on steel purchases

By Steve Garnsey2019-11-26T14:09:00

BMW, Daimler and Volkswagen have agreed to pay penalties totalling around €100m ($111m) for anti-competitive practices related to downstream long-steel product purchasing

BMW, Daimler and Volkswagen, have agreed with Germany’s cartel office, the Bundeskartellamt, to pay penalties totalling around €100m ($111m) for anti-competitive practices. The case related to purchases of engineered long-steel products, which are those related to steering rods, gear wheels, crankshafts, camshafts and connecting rods.

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