Germany’s cartel office (Bundeskartellamt) says six component companies are currently being investigated with fines possible of up to 10% of turnover should they be found to be in breach of regulations.
Only Magna so far has confirmed the Bundeskartellamt came to its premises in respect of an “an ongoing antitrust investigation of the automobile textile coverings and components industry – particularly trunk linings.”
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The investigations could take months or even years to complete, with the Bundeskartellamt declining to reveal the identity of the other five suppliers.
“It is not up to to us to say anything about those involved in the procedures,” a Bundeskartellamt spokesman told just-auto from the body’s Bonn headquarters. “We will gather our colleagues…and we will see how co-operation of [the] companies will evolve or not.
“The fines and co-operation could be a tool to make our procedure easier, but it is normal, European-wide cartel law which is applied to this kind of procedure.
“Therefore companies could theoretically have a fine up to 10% of their turnover. In practice it rarely reaches this 10%. That [procedure] can take not only months, but years.”
Magna said its policy was to comply with all applicable laws, including antitrust and competition laws “and we intend to cooperate with the German Federal Cartel Office,” said a statement from the supplier.
