DAF is liable for some €17.3 million in damages suffered by two British companies as a result of cartels in which the truck maker participated.
That is what a specialized British court has determined. The cartelisation, in which companies agree among themselves to artificially inflate prices, occurred from 1997 to 2011. Apart from DAF, truck makers Man, Volvo/Renault, Daimler, and Iveco were also involved. In 2016, the European Commission handed out a total of some €3 billion in fines. DAF had to pay a mega fine of €750 million.
Compared to that, the damage claims of British companies Royal Mail and BT are petty cash. The companies demanded just under €40,000,000 from DAF. Because they overpaid for years for the Eindhoven-based company’s trucks and parts.
5 percent
The British court found that demand too excessive. According to the calculation models the court used, DAF must repay 5 per cent of the total amount of trucks the truck maker sold to the companies during that time. That amounts to about 17.3 million euros. That amount could go up because interest must also be paid for the elapsed time period.
Source: Studio040
Translation: Chaitali Sengupta. She also gives online INBURGERING classes.
