OFT probes price fixing
The UK’s Office of Fair Trading has launched an investigation into suspected price fixing by truck manufacturers.
As part of its enquiries, which are taking place under the Enterprise Act 2002 and the Competition Act 1998, the OFT earlier this week invited itself to the offices of Mercedes-Benz UK in Tongwell, Milton Keynes. Following the raid, one person was arrested but later bailed.
The Enterprise Act is a serious piece of legislation - breaches can result in criminal charges, with the possibility that individuals can be jailed for up to five years, and the company fined up to 10% of its global turnover.
A spokesman for Mercedes-Benz has said that the company "… is fully co-operating with the investigation which may take many months or more to complete."
Meanwhile, rival firms Scania, MAN and Volvo Trucks / Renault Trucks have confirmed that they have already received letters from the OFT notifying them of the investigation and requesting information. Iveco and DAF, The other two major commercial vehicle makers operating in the UK, have indicated that they are prepared to fully cooperate with the OFT probe.
As part of its enquiries, which are taking place under the Enterprise Act 2002 and the Competition Act 1998, the OFT earlier this week invited itself to the offices of Mercedes-Benz UK in Tongwell, Milton Keynes. Following the raid, one person was arrested but later bailed.
The Enterprise Act is a serious piece of legislation - breaches can result in criminal charges, with the possibility that individuals can be jailed for up to five years, and the company fined up to 10% of its global turnover.
A spokesman for Mercedes-Benz has said that the company "… is fully co-operating with the investigation which may take many months or more to complete."
Meanwhile, rival firms Scania, MAN and Volvo Trucks / Renault Trucks have confirmed that they have already received letters from the OFT notifying them of the investigation and requesting information. Iveco and DAF, The other two major commercial vehicle makers operating in the UK, have indicated that they are prepared to fully cooperate with the OFT probe.
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