Press Release: Antitrust: Commission fines producers of car and truck bearings € 953 million in cartel settlement

On 19 March 2014, the European Commission found that two European companies (SKF and Schaeffler) and four Japanese companies (JTEKT, NSK, NFC and NTN with its French subsidiary NTN-SNR) operated a cartel in the market for automotive bearings. The Commission has imposed fines totalling € 953 306 000.

Automotive bearings are used by car, truck and car part manufacturers to reduce friction between moving parts inside a vehicle.

• Primary Source

ESO: Background information: Antitrust: Commission introduces settlement procedure for cartels http://www.europeansources.info/record/press-release-antitrust-commission-introduces-settlement-procedure-for-cartels/

ESO: Background information: Antitrust: Commission confirms unannounced inspections in the sector of bearings for automotive and industrial use http://www.europeansources.info/record/memo-antitrust-commission-confirms-unannounced-inspections-in-the-sector-of-bearings-for-automotive-and-industrial-use/

European Commission: Competition: Cartels http://ec.europa.eu/competition/cartels/overview/index_en.html

European Commission: RAPID: SPEECH/14/233: Introductory remarks on Bearings cartel http://europa.eu/rapid/press-release_SPEECH-14-233_en.pdf

Deutsche Welle, 19.03.14: EU executive fines car bearings producers in cartel settlement http://dw.de/p/1BSJv

---