European Commission investigates prices between tire manufacturers

The Commission, responsible for monitoring competition in the EU, said fear “that there has been price collusion” between several companies in the sectoraccording to a statement published on Tuesday in Brussels.

Without disclosing the name of the companies involved, the Commission specified that the products in question were new replacement tires for passenger cars, vans, trucks and buses sold in Europe.

The French group Michelin, number one in the world, confirmed that it was one of the companies involved, but “categorically denied” any “anti-competitive practices such as those referred to by the European Commission” and for the most part “any price fixing practices”.

Japanese manufacturer Bridgestone, German Continental, Finnish Nokian and North American Goodyear also confirmed that they had been subject to inspections, stressing that they were “fully cooperating” with anti-cartel authorities.

Contacted by the France-Presse news agency, the companies Pirelli, Hankook, Yokohama and Nexen did not react immediately.

“Unannounced inspections constitute a preliminary step in investigations into possible anti-competitive practices. Because the Commission carried out these inspections does not mean that the companies are guilty and does not prejudice the outcome of the investigation itself“, highlighted the European executive.

In this type of competition infringement, a company found guilty can be fined up to 10% of its annual worldwide turnover.

There is no legal deadline for completing these investigations.