November 22, 2017 / 11:15 AM / a year ago

EU fines five car airbag, seatbelt suppliers over cartel

FILE PHOTO: A woman stands next to a logo of Takata Corp at a showroom for vehicles in Tokyo, Japan, November 6, 2015. REUTERS/Toru Hanai/File Photo

BRUSSELS (Reuters) - EU antitrust regulators fined five car safety equipment makers a total of 34 million euros ($40.0 million) on Wednesday for taking part in cartels to fix prices for seatbelts, airbags and steering wheels to Japanese carmakers.

The Commission, which oversees competition policy in the European Union, said it had identified that four separate cartels in which suppliers to Toyota (7203.T), Suzuki (7269.T) and Honda (7267.T) coordinated over prices and markets and exchanged sensitive information between 2004 and 2010.

Tokai Rika (6995.T) was fined 1.8 million euros, Takata TKTDQ.PK 12.7 million euros, Autoliv (ALV.N) 8.1 million euros, Toyoda Gosei (7282.T) 11.3 million euros and Marutaka 156,000 euros.

($1 = 0.8508 euros)

Reporting by Philip Blenkinsop

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