Magna, IAC part of German price-fixing probe

Douglas A. Bolduc and Matthias Krust
AUTOMOTIVE NEWS EUROPE

Published: September 25, 2013 11:51 am ET
Updated: September 25, 2013 11:53 am ET

Related to this story

Topics Legal, Automotive

STUTTGART, GERMANY — German antitrust authorities searched the offices of Magna International Inc., IAC Group and four other automotive suppliers Tuesday.

The companies are under investigation on suspicion they have been fixing prices since at least 2002 on car trunk linings, the Bonn-based authority said on Wednesday.

The cartel office declined to reveal which suppliers had their offices searched.

Magna and IAC said in separate releases that their German operations were searched as part of the probe. Each supplier pledged to cooperate with antitrust authorities.

Magna declined to say which location was searched while IAC said that its office in Krefeld, Germany, was searched by the antitrust authorities.

The searches were conducted simultaneously at companies in the German states of Baden-Wuerttemberg, Hesse, Lower Saxony, North Rhine-Westphalia and Bavaria on Tuesday, the cartel office told Plastics News and Automotive News Europe sister publication Automobilwoche. Twenty cartel office investigators and 15 detectives took part in the searches.


Comments

Magna, IAC part of German price-fixing probe

Douglas A. Bolduc and Matthias Krust
AUTOMOTIVE NEWS EUROPE

Published: September 25, 2013 11:51 am ET
Updated: September 25, 2013 11:53 am ET

Post Your Comments


Back to story


More stories

Image

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

Canada's Papp Plastics is eyeing big opportunities with JV in Mexico

November 24, 2014 4:11 pm ET

Canadian injection molder and turnkey solution provider Papp Plastics & Distributing Ltd. will open an $11 million to $12 million joint venture...    More

Image

Indiana injection molder PRD expands

November 24, 2014 1:56 pm ET

Automotive supplier PRD Inc. is expanding its manufacturing facility in Springville, Ind.    More

Image

Can plastics return to the driver's seat?

November 24, 2014 6:00 am ET

When the June 1989 issue of Popular Science introduced three cutting-edge automotive technologies, including the latest Corvette and a powerful...    More

Image

New GM purchasing chief faces big hurdles to improve supplier relations

November 24, 2014 11:11 am ET

Steve Kiefer is moving into the eternal hot seat that is head of GM global purchasing and supply chain.    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events