GLOBAL freight forwarders have faced a Swiss probe since
2007 into price-fixing of air freight during 2003-2007 through Switzerland
resulting in fines of CHF6.2 million (US$6.7 million).
The four freight forwarders, Kuehne + Nagel, Deutsche
Bahn, Agility and Panalpina have been fined by the Swiss Competition Commission
(COMCO) over cartel that fixed fees and surcharges in the area of air freight.
Both Deutsche Bahn and Agility were able to lessen fines
by confessing, thus Germany's national rail company had to pay CHF1.02 million
while the Kuwait-based logistics provider had to pay CHF907,349.
Heaviest fines went to Switzerland's two logistics
giants, Panalpina, which had to pay CHF3.12 million and Kuehne + Nagel, CHF1.17
million.
Panalpina issued a statement that it had suffered
goodwill impairment. "Due to the loss of a major customer in Norway, the
group considers that the intangible assets of its Norwegian operations have to
be partially written off. The company expects an impairment charge of CHF29
million to be recorded against the assets in its full-year financial statement
2012."
Source : SN-TR.
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