French government fines four bearing manufacturers for price fixing in mid-90s
Paris, France -- Nov. 27, 2002 -- France's Competition Council has fined four bearing manufacturers a total of $18.
Paris, France — Nov. 27, 2002 — France’s Competition Council has fined four bearing manufacturers a total of $18.7 million (all figures converted to US dollars) for price fixing and collusion in setting French wholesale prices and discount structures during 1993 and 1997.
The companies are SKF France, INA, FAG and SNR Roulements.
In September 2002, SKF France received a $7.8 million fine; SNR Roulements of France $6.5 million; INA Holdings Schaeffler KG of Germany $4 million (which included a fine for recently-acquired FAG Kugelfischer Georg Schaefer AG of Germany).
The companies had the opportunity to appeal the rulling.