November 22, 2017 / 11:15 AM / in 24 days

EU fines five car airbag, seatbelt suppliers over cartel

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.

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

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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