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EU Commission fines ball-bearing cartel EUR953 million

( March 19, 2014, 10:25 GMT | Official Statement) -- MLex Summary: The European Commission has imposed fines totaling 953 million euros on six companies involved in a ball-bearing cartel. The largest fines were imposed on the European manufacturers Schaeffler and SKF, while Japan’s NTN and NSK also saw significant sanctions. JTekt blew the whistle on the conduct and avoided a fine of 86 million euros. All companies won 10 percent cuts in their fines for entering into voluntary settlements.European Commission...

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