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US: executives of Japanese suppliers indicted in price-fixing probe


According to the US Department of Justice a federal grand jury in Detroit moved to indict seven executives at two Japanese auto parts makers because they were found guilty of price-fixing. The Department of Justice statement says the indictments relate to a conspiracy to engage into monopolistic practices that took place from as early as January 2000 to about February 2010. "Among ...
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China: deadly auto parts plant explosion has now three suspects
According to China’s state media, the police have now taken into custody three suspects in connection to China's worst industrial accident this year. In the first days of August, a blast ...
Magna considering new purchases
As Magna, the largest auto parts maker in North America, distances from the strategy envisioned by its debt-weary founder Frank Stronach, the company now mulls acquisitions worth almost $4 billion. According ...
Latest auto supplier deal could pave way for more tie-ups
Last week, German auto parts supplier ZF Friedrichshafen issued a take over bid for US rival TRW Automotive Holdings – in a move that could see the creation of the ...
US: auto parts price fixing probe turns into record investigation
The Justice Department has been for some time investigating price-fixing and bid-rigging among the automotive parts suppliers, with the probe quickly becoming the largest ever criminal antitrust probe. The investigation, which ...
China: auto sector evolution makes new billionaires
After China in 2013 became the first market in the world to best the 20 million units sold, the implications go as far as transforming some of its businesses into ...
Japanese supplier eyes double China sales on VW to GM orders
Tsubakimoto Chain Co., a Toyota supplier, forecasts China auto parts sales to more than double in four years as carmakers including Volkswagen and General Motors raise orders to diversify supply ...
Auto suppliers expand their presence in Russia
Russia's auto parts industry is expected to improve as suppliers such as Visteon and Robert Bosch increase their presence in the market and component makers such as GKN Driveline, TRW ...
Toyota supplier boosts spending for new models
Toyoda Gosei Co., a supplier to Toyota Motor Corp., the world’s biggest automaker, plans to increase capital spending next fiscal year as carmakers roll out new models. Tadashi Arashima, president of ...
Japanese auto supplier settles price fixing trial
Nippon Seiki Co. Ltd. has agreed to pay $4.56 million to consumers and cooperate with attorneys who are suing many other firms, making it the first settlement in a massive ...

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