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Yamada Admits Price-Fixing Role
Japan's Yamada Manufacturing Co. has agreed to plead guilty and pay a $2.5 million criminal fine for fixing prices on steering columns it supplied to Honda Motor Co. in the U.S.
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Japan's Yamada Manufacturing Co. has agreed to plead guilty and pay a $2.5 million criminal fine for fixing prices on steering columns it supplied to Honda Motor Co. in the U.S.
The Dept. of Justice says Yamada conspired with unidentified others to rig bids between 2007 and 2012 or longer. The company has agreed to cooperate in the department's continuing investigation into price fixing involving dozens of companies and components.
The Justice Dept. says 35 companies and 29 of their executives have so far pleaded guilty to conspiracy charges or agreed to do so. The U.S. effort is part of a global investigation into price fixing among auto suppliers.
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