EU Hits Car-Part Makers With €368M Price-Fixing Fine
Law360, London (March 5, 2019, 3:29 PM GMT) -- The European Commission said on Tuesday it has fined two auto-parts manufacturers a total of €368 million ($416 million) after they admitted to coordinating the prices of steering wheels, seat belts and airbags sold to European carmakers over four years.
Two auto-parts companies have been fined a total of €368 million ($416 million) after they admitted to manipulating the prices of parts supplied to Volkswagen and BMW, the European Commission said Tuesday. (AP) Swedish automotive safety manufacturer Autoliv and TRW, a U.S. parts supplier, have struck settlements acknowledging that they took part in two cartels manipulating the price of car parts supplied to the...
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