The European Commission levied a fine of about $33.3 million against JCB, the British construction, farming and industrial equipment maker, for violating antitrust regulations with illegal distribution agreements.
The European Union’s (EU) executive agency said JCB had imposed restrictions on its distributors to limit out-of-territory sales, preventing customers from taking advantage of price differences in various EU nations.
The Commission said JCB, one of the world’s largest manufacturers of construction and earth-moving machines, formed illegal agreements with its network of independent authorized distributors in Britain, France, Italy and Ireland.
These infringements affected the $7 billion annual market for such machinery, in which JCB has around a 13% market share, the Commission said in a statement.
