EU Dishes Out €141M In Fines Over Auto Parts Cartels

Law360, New York (July 10, 2013, 1:15 PM EDT) -- The European Union has fined Yazaki Corp. and three other car parts suppliers more than €141.7 million ($182 million) for running a number of cartels in the market for automotive wire harnesses, Europe's antitrust authority said Wednesday.

The European Commission said that Yazaki, Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., S-Y Systems Technologies Europe GmbH and Leoni AG operated five cartels affecting the market for wire harnesses sold to big-name car companies like Toyota Motor Corp. and Honda Motor Co. Ltd. The cartels involved different...
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