WASHINGTON (April 28, 2009)—Trelleborg Group and the U.S. Department of Justice have agreed on a combined fine of $11 million to settle conspiracy allegations against the company in its marine hose and marine bumper businesses.
Trelleborg already has paid nearly $2 million to settle a class action regarding the marine hose case, the company said in a press release issued from its headquarters in Trelleborg, Sweden. Both the class action settlement and the prospective fines are part of $50.6 million Trelleborg charged to the fourth quarter of 2008, the company said.
Federal courts in Norfolk, Va., and Fort Lauderdale, Fla., must now rule on the settlements. There are no court dates yet, but Trelleborg hopes they will be scheduled soon, according to a company spokesman in Sweden.
On Jan. 28, the European Commission fined Trelleborg $32 million for alleged conspiracy to fix prices, rig bids and allocate market share in the marine hose business. Trelleborg has appealed the fine to the First Instance of the European Court of Justice. There is no word as to when the court might rule on the appeal, Trelleborg said.