Tyre companies raided by EU antitrust regulators

Continental, Michelin, Nokian and Pirelli targeted

Tyre companies raided by EU antitrust regulators
Photo: Bigstock

Several of the world’s biggest tyre manufacturers were raided by European Union antitrust regulators this week as part of an investigation into a possible cartel.

This is according to Reuters, which said Continental, Michelin, Pirelli and Nokian were targeted.

In response, a spokesperson for Pirelli told Reuters it had acted “in total compliance with all rules and regulations”, before adding that it is “guaranteeing full support to the authority in the ongoing investigations”.

Continental, Michelin and Nokian confirmed that raids took place in their factories in Germany, France and Finland respectively.

The European Commission, acting on behalf of the EU, said the companies have breached rules against cartels, adding: “The Commission is concerned that price coordination took place amongst the inspected companies, including via public communications.”

If the companies are found guilty, they face fines of up to 10 percent of their global turnover.

Source: Reuters

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