Parts Supplier For Honda Hit With $20M Price-Fixing Fine

Law360, New York (April 23, 2014, 3:55 PM ET) -- The U.S. Department of Justice's ongoing antitrust probe of the auto parts industry barreled ahead on Wednesday as the agency announced that a supplier of steering systems to Honda Motor Co. Ltd. will plead guilty to price-fixing and bid-rigging and pay a $19.9 million criminal fine.

Saitama, Japan,-based Showa Corp. is slated to file a plea agreement detailing its role in a five-year scheme in which it reached agreements with its competitors to set limits on bids and price quotations on certain steering assemblies that would...
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