A PYMNTS Company

German subsidiary of TRW Automotive pleads guilty to price-fixing

By  |  July 31, 2012

TRW Automotive Holdings Corp’s German subsidiary, TRW Deutschland Holding, will plead guilty to conspiracy to seatbelt, airbag, and steering wheel price-fixing and will pay $5.1 million in criminal fines. The company, after agreeing on prices with other companies to divide the market, sold the parts to two German manufacturers who installed them in cars to be sold to US consumers. This recent plea deal is the seventh made by companies under investigation by the DOJ, and the fine adds to a $785 million pot that may grow in the near future as more individuals await sentencing.

Full content: Justice

 

Related content:  Interview: Chris Sagers on Potash II

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.