A PYMNTS Company

South Africa: Watchdog charges Takata with price fixing

By  |  March 14, 2018

According to Reuters, South African competition watchdog charged Takata Corp with price fixing on Wednesday, March 14, in another blow to the Japanese auto safety products maker currently in the throes of a massive airbag scandal.

The Competition Commission said Takata worked with other firms to fix prices, divide the market and collude in their bidding for four different seat belts and airbags contracts with three automakers.

There was no one immediately available comment at the Takata South African office.

The case, which has been referred to the Competition Tribunal for prosecution, comes almost a year after Takata launched a recall of about 125 million vehicles worldwide due to faulty airbags.

The Commission said the alleged violation of competition rules took place between 2007 and 2008. The contracts were with Honda, Toyota and BMW.

Full Content: Reuters

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