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South Africa: Car safety firm agrees to pay hefty Competition Commission fine

By  |  October 9, 2017

Autoliv, one of the world’s largest manufacturers of car safety systems, has agreed to pay an administrative penalty of just under US$10.2 million for contravening the Competition Act.

In a statement issued on Monday, October 9, the Competition Commission of South Africa said the Swedish firm concluded a settlement agreement for its involvement in “prohibited practices like price fixing, market division and collusive tendering” with competitors, including TRW, the Takata Group, Toyoda Gosei and Tokai Rika.

“The settlement follows a Commission investigation into collusive conduct against manufacturers of airbags, seatbelts and steering wheels (including Autoliv and its competitors) for allegedly fixing prices, dividing markets and colluding on tenders issued by car manufacturers such as BMW and VW,” the Commission stated.

Full Content: Business Report

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