Wednesday, February 10, 2010

Panalpina Receives Freight Anti Competition Objections From European Commission

Practices Investigation Issues Preliminary Findings
Shipping News Feature

EUROPE – Swiss-based logistics operator Panalpina has confirmed that following on from reports that they are subject to an international investigation by the US Department of Justice (DOJ), the EU Commission and the Swiss authorities into alleged anti-competitive behavior they have been issued with a Statement of Objections by the EU’s Commission.

The Statement of Objections contains the European Commission's preliminary view with respect to the allegations concerning Panalpina’s and other companies’ actions within the freight forwarding industry. This document enables the addressees to respond to the Commission's preliminary findings and does not prejudge the final decision of the European Commission.

In a statement Panalpina said that: “[We] will closely examine the Commission's preliminary findings and will respond in due time. It is Panalpina's policy to conduct its business in full compliance with all applicable laws in all jurisdictions in which it conducts its business.”

They did admit though that the investigation could result in penalties being levied against the company or its related subsidiaries.

The anti competition investigation, which began in October 2007 and initially also included Canadian and Australian investigations which have concluded, is ongoing against several major freight forwarding companies.

http://www.panalpina.com/