The European Commission said on Tuesday it had fined car safety equipment makers...
FILE PHOTO: European Competition Commissioner Margrethe Vestager talks to the media at the European Council headquarters in Brussels, Belgium February 6, 2019. REUTERS/Yves Herman
BRUSSELS - The European Commission said on Tuesday it had fined car safety equipment makers Autoliv and TRW 368.3 million euros for setting up a cartel to supply car seat belts, airbags and steering wheels to European car producers. The Commission, which is responsible for antitrust policy in the 28-nation European Union, said Japan’s Takata was not fined because it revealed the cartels to the Commission.
“This is the second time we fine car safety equipment suppliers for participating in a cartel,” Competition Commissioner Margrethe Vestager said. “The three suppliers colluded to increase their profits from the sale of these life-saving components. These cartels ultimately hurt European consumers and adversely impacted the competitiveness of the European automotive sector, which employs around 13 million people in the EU,” she said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ahead of EU elections, Macron unveils plan for 'European renaissance'French President Emmanuel Macron has made an impassioned defense of a new Europe...
Read more »
France's Macron calls to protect Europe against nationalists, foreign powers and manipulationFrench President Emmanuel Macron has set out proposals to protect the European Union (EU) from foreign powers ahead of Brexit and forthcoming European Parliament elections.
Read more »
Facebook, Twitter doing too little against disinformation - EU'We urge Facebook, Google and Twitter to do more across all member states to help ensure the integrity of the European Parliament elections in May 2019,' EU official say
Read more »
EU ready to give Britain more guarantees 'backstop' is temporary: BarnierThe European Union is ready to give Britain more guarantees that the Irish "...
Read more »
UK pays Eurotunnel 33 million pounds over 'secretive' no-deal Brexit ferry contractsBritain has paid out 33 million pounds ($43.7 million) to settle a claim with Eu...
Read more »
Customer deposits need protection in no-deal Brexit: EU watchdogThe EU bank watchdog has urged member states to protect customer deposits in bra...
Read more »
Brexit extension could draw legal challenge: German parliament reportBritain could face an EU legal challenge if it seeks to delay Brexit because of ...
Read more »
EU states block putting Saudi Arabia, U.S. territories on dirty-money listEuropean Union member states unanimously rejected on Friday a proposal to blackl...
Read more »
Slovenian president says 'a lot' of EU states would back Brexit extensionSlovenia's president said his country and many other European Union states ...
Read more »