Scania Korea Ltd., the local unit of Swedish truckmaker Scania, plans to spin off its marketing and wholesale business next year to improve its efficiency, a company official said Tuesday.

The move comes two months after South Korea’s antitrust watchdog ordered Scania Korea to pay 17.6 billion won ($16 million) in fines for colluding with its rival truck manufacturers to fix prices.

The spun-off unit will handle wholesale and marketing while the parent company will continue to sell vehicles and auto parts to customers, the official said.

The official said her company plans to complete the corporate spin-off by early next year. She asked not to be identified, citing policy.

Scania Korea generated 154.3 billion won in sales in 2012, compared with 152 billion won in 2011. Still, the company’s net profit fell to 2.4 billion won in 2012 from 5.1 billion won from a year earlier.

On Monday, Scania Korea announced that it will shelve its investment of $20 million in the country. (Yonhap News)