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Published: Tuesday, 4/24/2012

Japanese supplier to pay $20M in price fixing

BLADE NEWS SERVICES

DETROIT -- Tokyo-based auto supplier Fujikura Ltd. has agreed to pay a $20 million criminal fine and cooperate with the U.S. government’s ongoing investigation into price fixing in the industry.

According to a one-count felony charge filed Monday in federal court in Detroit, the company was involved in a conspiracy to rig bids and fix prices for auto parts from January, 2006, to at least February, 2010.

Fujikura sold automotive wire harnesses, which control the car’s electric components. The parts were sold to automakers in the United States and elsewhere.

Fujikura is the fifth Japanese company charged as part of the Justice Department’s investigation.



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