EU Fines Car-Parts Suppliers EUR18 Million in Cartel Settlement

   By Mauro Orru 
 

The European Commission said Tuesday that it has sanctioned car-parts suppliers Brose Fahrzeugteile and Kiekert AG for their involvement in two cartels for the supply of closure systems.

The commission, the EU's executive arm, fined Kiekert 15.0 million euros ($17.5 million) and Brose EUR3.2 million after Canada-based Magna International Inc. revealed both cartels, in which it also took part.

However, antitrust authorities granted Magna full immunity for revealing the cartels.

The first cartel involved Magna and Brose for the supply of door modules and window regulators for one of Daimler AG's car models. The second cartel between Magna and Kiekert was for the supply of latches and strikers to Daimler and BMW AG.

"The three suppliers colluded to increase their profits from the sale of these components. These cartels ultimately hurt European consumers and adversely impacted the competitiveness of the European automotive sector," said EU competition chief Margrethe Vestager.

Write to Mauro Orru at [e-mail]; @MauroOrru94

(END) Dow Jones Newswires

September 29, 2020 07:11 ET (11:11 GMT)

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