Autoliv Pleads Guilty to U.S. Price Fixing

Autoliv Inc. has agreed to pay a $14.5 million fine and plead guilty in U.S. federal court in Detroit to conspiring to fix prices of seatbelts, airbags, and steering wheels between 2006 and 2011, according to the U.S. Department of Justice.

The settlement involves selling parts at inflated prices to carmakers in the U.S. and elsewhere. Autoliv says the agreement ends its legal exposure in the U.S. but does not shield the company from a continuing probe by the European Commission.

The Autoliv settlement is the latest result of an ongoing investigation of auto suppliers by government authorities in Europe, Japan, and the U.S. The Autoliv case is the first to involve occupant safety systems.

Separately, the Justice Dept. says Kazuhiko Kashimoto, an executive at Yazaki Corp., has agreed to pay a $20,000 criminal fine and serve 14 months in a U.S. prison for his role in manipulating the price of wiring harnesses and related components supplied to Honda Motor Corp.'s American operations between 2000 and 2007.

Yazaki and four other of its executives pleaded guilty in U.S. federal court in January of conspiring to fix prices for wiring harnesses. The company agreed to pay a $470 million fine, and the executives received sentences ranging from 15 months to two years.

The Justice Dept. says six companies and 10 individuals have so far pleaded guilty to price fixing and bid rigging in its supplier probe.