January 19 (SeeNews) - Romania’s anti-trust authority said on Thursday that it fined Volvo Romania, part of Sweden’s Volvo Group, with over 13 million lei ($2.9 million/2.6 million euro) for contractual agreements that obstructed competition in the distribution of medium and heavy Renault trucks.
Volvo Romania admitted to breaking the anti-trust law and, as a result, was granted a fine discount, the Competition Council said in a press release.
Volvo Romania is the successor of Renault Trucks Romania, following a merger of the two in 2013. Volvo Romania is the only importer of new, medium and heavy Renault trucks on the Romanian market.
In 2021, Volvo Romania booked a net profit of 28.7 million lei, on a turnover of 414.3 million lei, while employing 250 people, on average.
(1 euro=4.9355 lei)