Create a free Manufacturing.net account to continue

Japan Car Parts Makers In Price-Fixing Plea

The Justice Department says nine Japanese companies and two of their executives will plead guilty and pay millions in criminal fines for conspiring to fix the prices of products sold to automakers.

WASHINGTON (AP) -- The Justice Department says nine Japanese companies and two of their executives will plead guilty and pay millions in criminal fines for conspiring to fix the prices of products sold to automakers.

As part of the scheme, more than $5 billion in auto parts were sold to U.S. car manufacturers and installed in cars sold in the United States and elsewhere.

The department says the affected parts were sold to Chrysler, Ford and General Motors and U.S. subsidiaries of Honda, Mitsubishi, Nissan, Toyota and Subaru.

The companies will pay more than $740 million in criminal fines.


More from MBTMag.com

'Energy Corridor' Concept Pushed In North Dakota

Fairfax Says It Won't Abandon BlackBerry Bid

Toyota To Export Corollas To Latin America In 2014

Explore more news here.

More in Operations