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Trelleborg Receive Fine from US DoJ for Marine Oil Hoses and Fenders

Apr 20 2009

The US Department of Justice and the Trelleborg Group companies concerned have reached agreements in the previously announced competition investigations regarding certain types of marine oil hoses and marine fenders. These investigations commenced in 2007 and 2005 respectively and Trelleborg has been awaiting a decision from the authorities for a lengthy period.

The size of the fine is in line with the overall expectations Trelleborg communicated in connection with the European Commission's decision in January 2009.

The agreements entail that the two Group subsidiaries in question shall pay a combined fine of USD 11 M to the US authorities. The agreements are to be approved in court. The Group's French subsidiary concerned has previously paid close to USD 2 M in damages to aggrieved customers as settlement of a class action, which concerned Trelleborg and other companies, for alleged illegal price fixing concerning marine oil hoses. These fines and expenses were accounted for in the SEK 416 M provision charged to the fourth quarter of 2008.

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