On Monday, July 30th, TRW Deutschland pleaded guilty to price-fixing in Detroit federal court.
TRW Deutschland admitted it fixed prices of airbags, seatbelts and steering wheels between January 2008 and June 2011, which were sold to two German car makers and installed in vehicles sold in the US. The company agreed to pay a $5.1 million criminal fine and to cooperate with the federal government’s probe. TRW is only one in the seven companies that have guilty pleas and got fines of over $785 million for price fixing and bid rigging in the auto parts segment.
“The actions connected with the DOJ settlement announced today conflict with what TRW stands for and are not consistent with our policies,” TRW Automotive chair and CEO John Plant said. “The company’s policy is to comply with all laws and regulations, including all antitrust and competition laws.”
The Justice Department antitrust division reported in June the first case involving occupant safety systems. Autoliv Inc pleaded guilty for fixing prices of airbags, steering wheels and seat belts used in US cars. The company agreed to pay a fine of $14.5 million and also cooperate with the Justice Department.