Lear Corporation has just reported that it is part of an investigation into anti-competitive practices among automotive electrical and electronic component suppliers by the European Commission.
The EU Commission said it was investigating several suppliers, but so far, only Lear and Leoni Kabel Gmbh of Roth, Germany, have acknowledged they are part of the ongoing investigation.
Japan’s Fair Trade Commission has raided offices of Sumitomo Electric Industries Ltd. and Furukawa Electric Company.
“Lear is cooperating fully with the European Commission in their investigation, and I am confident that our Company is not involved in any anti-competitive practices,” said Bob Rossiter, Lear’s chairman and chief executive officer.
The antitrust investigations are looking at whether the companies improperly divided business with automakers, the EC statement said.
“The commission has reason to believe that the companies concerned may have violated [European Union] antitrust rules that prohibit cartels and restrictive businesses practice,” the EC said.
Earlier this week the Federal Bureau of Investigation and U.S. Department of Justice also appeared unannounced and uninvited at the offices of three different Japanese automotive suppliers in the Detroit area, raising questions about whether the investigation was triggered by complaints from automakers. (more…)