(Boursier.com) — Brussels has tire manufacturers in its sights. The European Commission has carried out unannounced inspections on the premises of companies active in the tire industry in several Member States. She fears that the inspected companies may have broken EU antitrust rules that prohibit cartels and restrictive business practices. The products affected by the controls are new replacement tires for passenger cars, vans, trucks and buses sold in the European Economic Area. The Commission is concerned that price coordination took place between the companies inspected, notably through public communications.
The competition watchdog does not name the companies concerned, which does not prevent Michelin to drop by 2.4% in Paris. In Milan, Pirelli yields 2.8% while Continental loses almost 3% in Frankfurt.
Unannounced inspections are a preliminary step in investigating suspected anti-competitive practices. The fact that the Commission carries out such inspections does not mean that companies are guilty of anti-competitive behavior nor does it prejudge the outcome of the investigation itself, the regulator points out.
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