EU fines lighting cartel
- June 26, 2017
- Posted by: Simon Wait
- Category: Industry News
The European Union (EU) has fined car lighting system producers Automotive Lighting and Hella €27m for operating a cartel with Valeo.
Competition Commissioner Margrethe Vestager said in a statement, ‘The Commission has sanctioned another cartel in the automotive sector. Three lighting producers harmed car and commercial vehicle manufacturers by colluding instead of competing against each other.’
The commission said the fine was in relation to the three companies discussing quotes for tenders and negotiation strategies and exchanging information on the status of negotiations with customers regarding price rises.
Automotive Lighting was fined €16.3m while Hella received a fine of €10.4m. Cartel whistleblower Valeo escaped any fine.