In New-Zealand, the largest Swiss logistics company Kühne + Nagel is to pay a fine of approximately 2.06 million Euros having been convicted for price fixing, writes the Swiss 'Handelszeitung' in it's newest edition.
The company received the fine also due to participation with Panalpina in an air freight cartel. Kühne + Nagel received an extra fine of 1 million US Dollars (approx. 721,000 Euros) for similar price fixing in the US. In addition, the EU also imposed a fine of 5.3 million Euros.
The members of the cartel organised secret meetings outside of work time and used code words to describe the agreed price arrangements. For example, the freight charges were defines as "new prices for asparagus and pumpkins".