Tuesday, September 7, 2010

Kuehne and Nagel, Panalpina, accused of price fixing

Although it's been years (actually decades) since price fixing was legal in airfrieght, some companies can't seem to stop the practice.

From Bloomberg News

New Zealand Indicts Kuehne in Antitrust Suit Against, BaZ Says

New Zealand authorities indicted Switzerland’s Kuehne & Nagel International AG and Panalpina Welttransport Holding AG as well as other logistics companies in an antitrust case, Basler Zeitung reported.

The companies allegedly “artificially” increased air- freight prices from and to New Zealand since 2001, the newspaper said, citing New Zealand’s authorities.

Kuehne & Nagel rejects the charges and will defend itself in court while Panalpina is in settlement talks with New Zealand’s authorities, Basler Zeitung cited the companies as saying.

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