Detroit Bureau on Twitter

Posts Tagged ‘trw automotive’

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.

Subscribe Now!

“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.


Investigation Brings Warning for TRW

Supplier facing trans-Atlantic probe.

by on Jul.13, 2011

TRW Automotive faces antitrust investigations in both the U.S. and European Union, it revealed.

Auto parts giant TRW Automotive Holdings Corp. is warning it could face financial penalties stemming from investigations into anti-competitive practices now underway by regulators in both the European Union and the United States.

The warning comes as EU and US regulators ramp up an investigation into anti-competitive practices that began in 2009, during the depths of the global automotive downturn.  Critics have contended that some major suppliers used the shake-out of weaker vendors to not just lock down more business but ensure they could drive up prices for raw materials, parts and more complex component systems.

The Inside Story!

“Competition and antitrust law investigations often continue for several years and can result in significant penalties being imposed by the European authorities as well as the U.S. Department of Justice, as is evidenced by the significant fines the European Commission has imposed, in some cases, for violations in other sectors, TRW said in a statement this week.