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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.
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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.
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