Auto-parts price fixing probe extends to six component segments

Article by Anita Panait, on December 25, 2011

The investigation into alleged price fixing by auto-parts suppliers on four continents now includes six automotive component segments. John Terzaken, director of Criminal Enforcement in the Antitrust Division of the U.S. Department of Justice, said the probe is the most sweeping in U.S. history. Terzaken disclosed that Australia and other jurisdictions have joined the probe, along with the European Union and Japan. 

The Antitrust Division has had success on its investigation, winning a plea deal with Furukawa Electric Co. of Japan for a $200 million fine plus incarceration for three U.S.-based executives.

Terzaken refused to divulge some details of the investigation, saying, "I can't define the specific number of parts we're looking at, but it is broad.” Companies of interest in the investigation remained unnamed, leaving supplier executives hounded by a question of exposure. Members of the Original Equipment Suppliers Association will convene in two months in New York to discuss the case. [source: CrainsDetroit]

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