The European Commission has imposed a €27 million penalty on two suppliers of car lighting for operating a cartel, contrary to Article 101 of the Treaty on the Functioning of the European Union. Automotive Lighting and Hella have to pay €16.3 and €10.4 million respectively for their part in the cartel. A third cartel member, Valeo, escaped a financial penalty, which the Commission indicated woulod have been over €30.5 million, because it revealed the existence of the cartel.
Reuters says that the parties discussed quotes for tenders and negotiation strategies and exchanged information on the status of negotiations with customers regarding price increases.
The EU press release is here.
Reuters says that the parties discussed quotes for tenders and negotiation strategies and exchanged information on the status of negotiations with customers regarding price increases.
The EU press release is here.
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