Bermuda-based international freight forwarder Geologistics International Management (Bermuda) Ltd. will pay a $687,960 for its part in a price-fixing arrangement.

The US Justice Department said yesterday that the firm was one of six companies to plead guilty to price fixing, who will pay a combined $50.3 million in criminal fines.

In the latest plea agreements in a long-running probe, BAX Global has agreed to pay a fine of $19.75 million. Panalpina World Transport (Holding) Ltd. will pay $11.95 million, Kuehne and Nagel will pay $9.86 million, EGL Inc will pay $4.49 million and Schenker, a part of the Deutsche Bahn Group, will pay $3.53 million.

The companies' customers were buying freight forwarding of cargo shipped by air to the United States from 2002 to 2007.

"The department's investigation uncovered six different conspiracies harming businesses and consumers in the United States and across the globe," said Christine Varney, who heads the Justice Department's Antitrust Division.

"Our investigation continues," she said.

New Zealand reached a similar settlement in early September with Geologistics, as well as Schenker, Bax Global, Kuehne and Nagel, Panalpina and EGL.

In February, the European competition regulator filed charges against a number of freight companies, including Kuehne and Nagel and Panalpina.