Corrected: EU antitrust regulators fine Schaeffler, four others 953 mln euros

NSK

19/03/2014 10:55

(Corrects to SKF from SFK) BRUSSELS, March 19 (Reuters) - European Union antitrust regulators fined German engineering group Schaeffler IPO-SHF.F , Sweden's SKF and three Japanese car parts makers a total 953.3 million euros ($1.33 billion) on Wednesday for taking part in a ball bearings cartel. Schaeffler received the biggest fine at 370.5 million euros while SKF's sanction came to 315.1 million euros, the second-largest.  The fines for NTN  6472.T , NSK  6471.T  and NFC were 201.35 million euros, 62.4 million and 3.96 million respectively. The five companies acknowledged taking part in the cartel in return for a 10 percent cut in their penalties. JTEKT  6473.T  escaped a sanction as it alerted the cartel to the European Commission. The EU antitrust authority said the cartel lasted for more than seven years between April 2004 and July 2011. ($1 = 0.7188 Euros) (Reporting by Foo Yun Chee, edit by Martin Santa and Louise Heavens) ((foo.yunchee@thomsonreuters.com)(+32 2 287 6844)(Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net)) Keywords: EU AUTOMAKERS/CARTEL