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Posts Tagged ‘auto price fixing’

Japanese Supplier Admits Price Fixing

Will pay $18 fine in Justice Dept. probe.

by on Oct.31, 2012

Supplier Tokai Rika likely wasn't delighted at the reality of being convicted for price-fixing.

A Japanese supplier has pled guilty in a probe by the U.S. Justice Department into price fixing in the auto industry, which continues to grow and has now snared nine different companies on three different regions of the world.

Nagoya, Japan-based Tokai Rika Co. Ltd. has agreed to plead guilty and to pay a $17.7 million criminal fine for its role in a conspiracy to fix prices of heater control panels installed in cars sold in the United States and elsewhere, the Department of Justice announced.

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Tokai Rika has also agreed to plead guilty to a charge of obstruction of justice related to the investigation of the antitrust violation. The company’s American arm is based in Plymouth, and it also has units in Battle Creek and Jackson.

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TRW Admits Guilt in Price Fixing

“Premature” to say if further charges could follow.

by on Jul.31, 2012

TRW pleads guilty and pays $5 mil fine.

TRW Automotive Holdings Corp. said its German subsidiary has agreed to plead guilty in U.S. District Court in Detroit to price fixing charges filed by the U.S. Department of Justice and pay a $5.1 million fine.

TRW Deutschland Holding GmbH of Koblenz, Germany has agreed to plead guilty for its involvement in a conspiracy to fix prices of seatbelts, airbags and steering wheels sold to two German automobile manufacturers, and installed in cars sold in the United States, according to the Justice Dept.

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“By agreeing to fix the prices of seatbelts, airbags and steering wheels, the conspirators eliminated competition for occupant safety parts in cars sold to U.S. consumers,” said Scott D. Hammond, Deputy Assistant Attorney General of the Antitrust Division’s criminal enforcement program.

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