EU fines producers of key automobile parts
BRUSSELS -- The European Union has fined two EU and four Japanese companies a total of nearly 1 billion euros ($1.4 billion) for rigging the market of key components in the car and truck industry at the expense of consumers.
EU Antitrust Commissioner Joaquin Almunia said Wednesday it was at least the third case of market rigging in the car industry that the EU had found so far. He said another half dozen investigations were ongoing in the sector.
Almunia said "it is incredible to see that one more car component was cartelized." He hoped "the fines imposed will deter companies... read more
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