Hoegh Autoliners has made a settlement with the US Department of Justice, regarding accusations over price-fixing. According to sources, the Norwegian company is to pay a fine of USD21 million to Middle East exports for illicit actions against competition.
The car carrier said that it has cooperated fully with the authorities to reach a settlement and is willing to help others to conclude their investigations as well. The company’s priority is now to reinforce its compliance activities and commit to fair and lawful business practice. Also, Hoegh Autoliners issued a statement to declare that it ‘deeply regrets for the incidents occurred’.
The Norwegian company was put under the microscope when the US DOJ started investigations among many companies in the car carrier industry.
Earlier this month, Hoegh Autoliners denied related allegations made by S. African authorities. In particular, the South Africa’s Competition Commission accused Hoegh of colluding with Mitsui OSK Lines and referred the company for prosecution on seven charges.
Also, Hoegh Autoliners said that antitrust authorities in Mexico, New Zealand, China, Japan and South Korea have concluded their investigations and no additional fine has been imposed.
