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,
color:#222222;mso-ansi-language:EN-US">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.
Read also:
“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.
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