EU antitrust regulators scrapped an investigation into Faurecia, Eberspaecher Group and Tenneco, three years after raiding the suppliers and others on suspicion of anti-competitive practices.
The auto industry has been hit with multi-million euro fines by regulators worldwide in recent years for fixing prices of products including thermal systems, seat belts, radiators, windscreen wipers, ball bearings and car air conditioning.
The European Commission said at the time of the raids in March 2014 they were concerned the companies may have operated a cartel and abused their dominance in the market for exhaust systems.
It did not name the companies. However French parts maker Faurecia, which is 46.6 percent owned by PSA Group, Tenneco and Eberspaecher all confirmed they had been raided.
The EU competition enforcer on Friday said the case had been administratively closed without providing details. It can fine companies up to 10 percent of their global turnover for breaching the bloc’s rules.
Full Content: Automotive News Europe
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI