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International

Australia fines parts maker $34 million for running cartel

May 16, 2018 Reprints

The Federal Court of Australia fined Japanese electrical component maker Yazaki Corp. $46 million Australia ($34 million) for price fixing and running a cartel in parts supplies, ABC News reported. The Australian Competition and Consumer Commission had appealed against the court's previous AUD 9.5-million fine imposed in 2017. The commission said that Yazaki and its local subsidiary – Australian Arrow Pty. Ltd. – allegedly engaged in cartel conduct and price fixing in the supply of wire harnesses to Toyota Motor Corp. between 2003 and 2009.

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Australia fines parts maker $34 million for running cartel

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