SÖDERTÄLJE, Sweden--(BUSINESS WIRE)--Regulatory News:
As previously communicated, Scania, along with a number of other truck manufacturers has been investigated by the European Commission concerning inappropriate exchange of information during the period 1997-2011.
In light of the European Commission’s Statement of Objections and recent developments in the investigation, Scania is now, in accordance with relevant accounting principles and a prudent approach, making a provision in order to cover possible fines.
Scania has fully cooperated with the European Commission during the investigation. However, Scania contests the Commission’s view that the company has entered into a pan-European agreement with other manufacturers with regard to pricing.
Also, the company has not delayed the introduction of new engines compliant with EU-legislation for exhaust emissions.
The company will fully exercise its rights of defence in the ongoing investigation.
The provision of SEK 3.8 billion will have an impact on operating income in the second quarter of 2016. Scania will publish its Interim Report for the period January-June 2016 on 28 July 2016.
Scania is a part of Volkswagen Truck & Bus GmbH and one of the world’s leading manufacturers of trucks and buses for heavy transport applications. Scania is also leading provider of industrial and marine engines. Service-related products account for a growing proportion of the company’s operations, assuring Scania customers of cost-effective transport solutions and maximum uptime. Scania also offers financial services. Employing some 44,000 people, the company operates in about 100 countries. Research and development activities are concentrated in Sweden, while production takes place in Europe and South America, with facilities for global interchange of both components and complete vehicles. In 2015, net sales totalled SEK 95 billion and net income amounted to SEK 6.8 billion. Scania press releases are available on www.scania.com (http://www.scania.com/se)
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