European Commission raids Faurecia, Tenneco & other exhaust suppliers

Article by Christian A., on March 27, 2014

The European Commission has raided parts makers Faurecia, Tenneco Inc. and a number of several auto exhaust systems manufacturers as part of its efforts to go after those involved in suspected price-fixing in the global auto industry. The Commission said the companies raided may have taken part in a cartel and abused their dominant positions.

The raids, however, do not mean that the companies are guilty of anti-competitive behavior, the Commission said in a statement. While the European Union anti-trust agency named neither the companies nor the countries where the raids took place, Faurecia confirmed them, saying that it is cooperating fully with the authorities. French supplier Faurecia remarked that its "strict code of ethics" forbids price-fixing or any other breaches of antitrust law.

Chicago-based Tenneco disclosed that regulators in Europe and the United States asked for information "as part of an ongoing global antitrust investigation concerning multiple automotive suppliers." Tenneco said that Commission officials were at Tenneco GmbH’s Edenkoben office in Germany to collect information for the antitrust investigation. "Tenneco has also received a related subpoena from the U.S. Department of Justice," the US supplier said in a statement. It said that it is fully cooperating with the authorities.

German exhaust system maker Eberspaecher likewise said it was cooperating with EU authorities. In recent years, competition regulators in the US, Japan, Europe and Canada have imposed multi-dollar fines against car parts makers for fixing prices of products ranging from seatbelts, radiators and windshield wipers to air-conditioning systems. In the US, an ongoing probe by the Justice Department's anti-trust unit has already resulted in the prosecution of 29 executives and 26 companies and fines of over $2.25 billion. [source: automotive news - sub. required]

If you liked the article, share on:

Topics: tenneco, faurecia

Comments

Recommended

We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 2017
The other day, it was confirmed that Volvo will finally bring the XC40 to US soil, where it will first make an appearance at the 2017 Los Angeles Auto Show....
by - November 23, 2017
There is no question that the new BMW M5 (F90) high performance sports sedan is more powerful, faster and more enticing than the previous model. But for interested customers in...
by - November 23, 2017
Following the Tesla Roadster’s electrifying revelation on Thursday, Musk’s highly ambitious goals have skyrocketed when he tweeted about his future plans for the new sports car. Well, kind of. The...
by - November 23, 2017
Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 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