As previously communicated, joint venture companies Wallenius Wilhelmsen Logistics (WWL, owned 50% by WWASA) and EUKOR Car Carriers (owned 40% by WWASA), have been two of several shipping companies under investigation by the Department of Justice (DOJ) for alleged anti-competitive behaviour in the car carrying industry.
The investigation revealed instances of conduct contrary to company policy and in breach of US competition laws. Accordingly, WWL has decided to reach a settlement with the DOJ, covering activities from February 2000 to September 2012. By this agreement, the company agrees to pay USD 98.9 million in fines (USD 49.5 million accounts for WWASA's share) and to provide continued support to the DOJ investigation.
The settlement also closes the DOJ investigation into EUKOR Car Carriers. EUKOR Car Carriers will not receive a fine. WWASA made a provision for the outcome of the investigation in the third quarter 2015. Consequently, the fine will not have a profit and loss effect for WWASA in 2016.
FOR FURTHER INFORMATION, PLEASE VISIT Wallenius Wilhelmsen Logistics' website (www.2wglobal.com).
Media enquiries: Marius Steen, corp. communications Wilh. Wilhelmsen Holding ASA Tel. +47 959 65 379 Mail: Marius.Steen@wilhelmsen.com
IR enquiries Benedicte Bakke Agerup, CFO WWASA Tel. +47 915 48 029 Mail: Benedicte.B.Agerup@wilhelmsenasa.com