PSA Groupe companies are claiming damages for what they say is price fixing among several bearings suppliers, with some reports putting the total at hundreds of millions of Euros.
The French automaker is declining to confirm that amount, but the issue is now in the hands of the UK Competition Appeal Tribunal, which is citing, NSK, SKF, JTEKT, Schaeffler and NTN.
“There are a lot of details, but we are not confirming the sum that [was] announced in reports,” a PSA spokesman told just-auto from Paris.
In a separate statement sent to just-auto by the French automaker, it noted: “After an inquiry, the European Commission has condemned several automotive bearings suppliers for price fixing.
“We apply the same rules in all cases of price fixing: the EC administrative sanctions [fines] do not allow the repair of damage undergone by manufacturers.
“Consequently, the PSA Groupe will commit to a parallel action to repair the damage suffered.”
It is as yet unclear why Britain’s Competition Appeal Tribunal is involved in the process, but nonetheless the UK body noted: “In the Decision, the Commission found that, from 4 April, 2004 until 25 July, 2011, the Defendants had infringed Article 101 TFEU and Article 53 of the EEA Agreement by participating in anticompetitive practices covering the entire EEA with a view of restricting price competition in the sector of bearings sold to car, truck and automotive component manufacturers.”
NSK, Schaeffler and SKF were not immediately available for comment.
Further details are expected later.