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EU set to fine car seatbelt, airbag cartel in coming weeks - sources
November 15, 2017 / 4:07 PM / a month ago

EU set to fine car seatbelt, airbag cartel in coming weeks - sources

BRUSSELS, Nov 15 (Reuters) - EU antitrust regulators are set to fine a group of companies involved in a cartel for car seatbelts, airbags and steering wheels in the coming weeks, three people familiar with the matter said on Wednesday.

The decision by the European Commission followed a six-year long investigation following dawn raids in June 2011. Regulators worldwide have gone after numerous cartels, levying billions of euros in fines and even putting some executives in jail.

The EU competition enforcer did not name the raided companies. World No. 1 airbag and seatbelt maker Autoliv said in 2011 that two of its German factories were targeted. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)

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