The European Commision has fined five large car parts producers with EUR 34 million for price-fixing.

The companies include Tokai Rika, Takata, Autoliv, Toyoda Gosei and Marutaka. Takata and Autoliv have factories in Romania.

The five producers admitted that they’ve been involved in a cartel and agreed to reach an amicable settlement for this case, reports local Agerpres.

Companies have coordinated their prices or markets by exchanging confidential information about the supply of safety belts, airbags and steering wheels to the Toyota, Suzuki and Honda car manufacturers in the European Economic Area (EEA). The cartel was set up and run from outside the EEA, especially from Japan.

The five companies participated in one or more cartels between 2004 and 2010.

editor@romania-insider.com