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]

If you liked the article, share on:

Comments

Recommended

Another day, another record. Is the new Dodge Challenger SRT Demon the fastest car to date? According to some sources, the Dodge Challenger SRT Demon had just beaten the Tesla...
by - April 24, 2017
Following in the footsteps of the McLaren 570S, 540C and 570GT is the newest addition to the McLaren Sports Series -- the roofless 570S Spider. McLaren 570S was rolled out...
by - April 24, 2017
The British automaker Lotus is noted for releasing low production, limited editions of its sports car lineage. Now the Hethel-based automobile manufacturer is back at it again with its latest...
by - April 24, 2017
Earlier this week, the revamped 2018 Mercedes-Benz S-Class was revealed ahead of the 2017 Shanghai Auto Show. As expected, Mercedes Benz’s flagship model is now offered in several variants including...
by - April 24, 2017
Well, this is clearly not good news for everyone. Ever since the new BMW M4 CS rolled out in Shanghai last week, several reports about its limited production have quickly...
by - April 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries