JOHANNESBURG – The Competition Commission said on Monday that one of the world’s largest manufacturers of airbags, seatbelts and steering wheels has agreed to pay an administrative penalty of almost R150 million following its admission of having contravened the Competition Act.
The Commission said that Autoliv has concluded a settlement agreement with the Commission for its involvement in prohibited practices like price fixing, market division and collusive tendering with its competitors, namely,TRW Inc, Takata Group, Toyoda Gosei Co Ltd and Tokai Rika Co Ltd.
The settlement follows a Commission investigation into collusive conduct against manufacturers of airbags, seatbelts and steering wheels (including Autoliv and its competitors) for allegedly fixing prices, dividing markets and colluding on tenders issued by car manufacturers such as BMW Group and VW Group for the manufacture and supply of airbags, seatbelts and steering wheels.
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“The conduct affected tenders issued for the following vehicles: VW Polo, MQB platform (VW Golf), Audi A1, A3, A6, A7, A8, Q3, VW 120Up, VW Eos convertible, Passat, Porsche Cajun/Macan, F15/F16 platform (BMW X5/X6), PL6 platform (5,6 and 7 series) and M Sport.”
“Autoliv has agreed to pay an administrative penalty of R149 960 540,” said the Commission. The Commission has filed the settlement agreement with the Tribunal for confirmation as an order. The investigation against the other firms continues.- BUSINESS REPORT ONLINE