Mexican Media Brands
EU Fines Hella, Automotive Lighting for Price Fixing
The European Commission has fined Hella and Magneti Marelli's Automotive Lighting unit a combined €27 million ($30 million) for their participation in fixing prices for headlamps and other lighting products.
#legal
Share
The European Commission has fined Hella and Magneti Marelli's Automotive Lighting unit a combined €27 million ($30 million) for their participation in fixing prices for headlamps and other lighting products.
Valeo SA, which also participated in the cartel, escaped a fine by cooperating with the EC’s investigation. The commission says the companies rigged bids and exchanged information about contract negotiations instead of competing with each other.
The fines are part of a continuing international investigation into price fixing among dozens of automotive suppliers in the U.S., Europe and Japan.
RELATED CONTENT
-
Federal Corruption Probe of FCA Spreads to GM
Federal prosecutors have charged another former United Auto Workers union executive—this one with links to General Motors Co.—in a continuing investigation into bribery and illegal kickbacks in Detroit.
-
U.S. Charges Five More VW Execs in Diesel Cheating Scandal
U.S. prosecutors have charged five more current or former Volkswagen AG executives in connection with the carmaker’s diesel emission cheating scandal.
-
Four Auto Companies Rank Among the World's Most Ethical
GM and Cooper Standard make the list for the first time, joining long-running honorees Aptiv and Cummins