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

South Korean carmaker Kia will try to follow up the success of its Sportage compact sports utility vehicle by introducing a smaller SUV (subcompact) in the United Kingdom in the...
by - October 18, 2017
It can no longer be denied that Jaguar Land Rover wants to design some more hardcore type versions of their SUV range --- soon after launching the Discovery SVX only...
by - October 18, 2017
Motorists in the United Kingdom who intend to purchase the new 2018 Hyundai Kona subcompact sports utility vehicle could start placing their orders on November 2, 2017. Marked by Hyundai...
by - October 18, 2017
For many years, Lamborghini has always relied on the use of large and powerful engines including the V10 and the V12. In fact, the company’s very first engine in the...
by - October 17, 2017
You can now get the Opel Crossland X that’s LPG-powered if you are not a fan of diesel. Recently, the company released their version of the Peugeot 2008 equipped with...
by - October 17, 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