K+N considers appeal against 53.7m euro antitrust fine

Kuehne + Nagel is considering an appeal against its fine of 53.7m euros imposed by the EU Commission in its antitrust case.
The EU Commission imposed fines against various logistics
companies in antitrust proceedings that have been pending for several years. “The logistics companies were accused of co-ordinating their activities to establish certain surcharges for airfreight forwarding services during a period prior to 2007,” a statement released by K+N explains.
In proceedings in the United States relating to the same activities Kuehne + Nagel entered into a plea agreement with the US Department of Justice and agreed to a fine of $9.8 million.
"We will carefully consider the decision of the EU Commission and its
rationale," said Karl Gernandt, Chairman of Kuehne + Nagel International AG. "However, we believe that the Commission has not correctly investigated the facts and the participation of Kuehne + Nagel and has drawn significantly incorrect factual and legal conclusions.
“In addition, Kuehne + Nagel’s comprehensive cooperation throughout the investigation was not adequately acknowledged. That is why we are considering appealing against the decision before the European courts."