Release Date: 30 September 2010
Release ID: 4921
Kuehne + Nagel International AG today (30 September) announced that it has entered into a plea agreement with the U.S. Department of Justice ("DOJ") to resolve allegations that international freight forwarders, including Kuehne + Nagel, coordinated their activities with respect to establishing certain surcharges for international freight forwarding services to the United States.
Under the agreement, Kuehne + Nagel will plead guilty to violations of the U.S. Sherman Act relating to conduct of five of its subsidiaries in establishing certain surcharges for international air freight forwarding services and will agree to pay a fine of approx. USD 9.865 million. The plea agreement closes DOJ’s investigation of Kuehne + Nagel and its subsidiaries regarding international air freight forwarding services. The plea agreement remains subject to court approval.
“Kuehne + Nagel has cooperated intensively with the DOJ throughout the investigation. Kuehne + Nagel takes its obligation and commitment to abide by all laws including the anti-trust laws very seriously. Kuehne + Nagel has reviewed and reinforced its anti-trust compliance program, to always ensure compliance with the highest available standards,” says Karl Gernandt, Executive Vice Chairman of the Board of Kuehne + Nagel International AG.
As reported previously, DOJ and other competition authorities began investigations of international freight forwarding services in 2007. Kuehne + Nagel reiterates at this occasion that it is continuing to cooperate with anti-trust authorities.
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