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Kiekert Agrees to Plead Guilty in U.S. to Price Fixing
Kiekert AG, a German supplier of door latches and locks, has agreed to pay a $6.1 million fine and plead guilty to rigging prices in the U.S.
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Kiekert AG, a German supplier of door latches and locks, has agreed to pay a $6.1 million fine and plead guilty to rigging prices in the U.S.
The Dept. of Justice says Kiekert conspired to rig bids and fix prices on components it supplied to Ford Motor Co. between 2008 and 2013.
The supplier's guilty plea is the latest in a continuing international criminal investigation that in the U.S. alone has convicted 48 companies and 65 executives and collected more than $2.9 billion in fines. The Justice Dept. says its Antitrust Div. has uncovered price fixing of more than 50 types of automotive components to date.
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