The European Commission has issued 169 million euros ($225 million) in fines against 14 companies, including three in the U.S., in connection with air freight price-fixing charges dating as far back as 2003.
The Wednesday announcement listed the largest fines against Kuehne + Nagel and Panalpina, two Europe-based forwarders, each of which were assessed approximately 45 million euros. Lesser fines were levied against UPS, Expeditors International of Washington and UTiWorldwide, the U.S. companies.
Europe’s largest package carrier, DHL, was excused from the fines because it cooperated in the investigation.
In a statement Thursday, Expeditors International said it has “vigorously denied having entered into any unlawful agreement with its competitors” throughout the EC’s investigation.
“We have stated all along, and strongly reiterate today, that we did not enter into any agreement, in any way, that affected pricing to our customers,” Expeditors Chairman and CEO Peter Rose said in a statement.