Kuehne + Nagel plea agreement approved by U.S. court

The United States District Court for the District of Columbia has approved the plea agreement between Kuehne + Nagel International AG and the U.S. Department of Justice previously entered into on September 30, 2010.

Kuehne + Nagel has agreed to pay a fine of approximately USD 9.9 million under the plea agreement to resolve allegations that international freight forwarders coordinated their activities with respect to establishing certain surcharges.

In approving the plea agreement and the recommended fine, the Department of Justice and the Court recognized that Kuehne + Nagel provided substantial assistance to the U.S. authorities through its early and extensive cooperation with the investigation.

Karl Gernandt, Chairman of Kuehne + Nagel International AG said, “Kuehne + Nagel is committed to abiding by all antitrust laws and regulations. I reconfirm that we continuously develop and reinforce our compliance program to always ensure compliance with the highest available standards. The court's approval of the plea agreement marks the final conclusion of the U.S. antitrust investigation of Kuehne +Nagel commenced in 2007.” <Korea Shipping Gazette>