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Autoliv, Takata Targeted for Price Fixing in Brazil
Safety system suppliers Autoliv Inc. and Takata Corp. are being investigated in Brazil for possible price fixing, Reuters reports.
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Safety system suppliers Autoliv Inc. and Takata Corp. are being investigated in Brazil for possible price fixing, Reuters reports.
Brazil's anti-trust agency says its probe was prompted by evidence suggesting the two companies colluded on bids and pricing of locally distributed airbags, seatbelts and steering wheels.
Similar investigations in the U.S., Europe and Japan have prosecuted dozens of companies for similar criminal activity. In 2012 Autoliv pleaded guilty to fixing prices on airbags, seatbelts and steering wheels in the U.S. and paid a $14.5 million fine. Takata pleaded guilty a year later to manipulating seatbelt prices and agreed to pay a $71 million criminal fine.
Executives from both companies were found guilty of conspiracy and sentenced to prison.
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