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EU fines five car airbag, seatbelt suppliers over cartel

MAY 4, 2016 FILE PHOTO FILE – In this May 4, 2016 file photo, visitors look at child seats, manufactured and displayed by Takata Corp. at an automaker’s showroom in Tokyo. Money-losing Japanese air bag maker Takata Corp. hired financial advisory and asset management firm Lazard Thursday, May 26 to help tackle financial problems and massive recalls. (AP Photo/Shizuo Kambayashi, File)


In 2016 Takata airbag inflators was reported to be responsible for 11 deaths and more than 100 injuries worldwide

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, Suzuki and Honda coordinated over prices and markets and exchanged sensitive information between 2004 and 2010.

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Tokai Rika was fined 1.8 million euros, Takata 12.7 million euros, Autoliv 8.1 million euros, Toyoda Gosei  11.3 million euros and Marutaka 156,000 euros.

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