BMW, Daimler in addition to also Volkswagen raided over steel buying practices

Thursday, July 7th, 2016 - autos

Source : BMW, Daimler in addition to also Volkswagen raided over steel buying practices

structured to fight the German monopoly raided six car manufacturers offices last month, with respect to steel cost fixing allegations

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offices BMW , Volkswagen , was raided Daimler, ZF Friedrichshafen in addition to also Bush by the organizer of the anti-German monopoly, in addition to also revealed the presence of Bloomberg report.

Kay Weidner, a spokesman for the Bureau of Investigation, could not name any of the companies under investigation, although the ones mentioned since then has been self-determined in addition to also agreed to cooperate with investigators. VI chose being investigated to maintain its own identity.

industry giants are currently under investigation, after their offices were raided by the German authority at the end of June, according to reports. Antitrust regulator Germany is usually investigating the companies in order to investigate whether the cartel has been formed to determine the cost of steel used inside manufacture of automotive components.

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reports in which the organization has been formed in order to keep the low cost of steel in addition to also in which the investigation could last anywhere by a few months to several years.

can impose fines of up to 10% of its annual sales on the comet by the power party, although This kind of is usually rare in which the fines closer than ever, the upper limit. Previous investigations have been carried out in relation to cutting rates. This kind of’s less common in which the investigation investigation in determining the prices of raw materials.

statement issued by involved inside Volkswagen scandal was still yet to be released. Daimler spokesman confirmed in which an official statement is usually likely to be issued by Mercedes-Benz , in addition to also at the time of writing This kind of report, a spokesman for BMW unavailable.

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Source: BMW, Daimler in addition to also Volkswagen raided over steel buying practices

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