Yanks And Europeans Open Antitrust Probes Of TRW And Autoliv
Two major players in the automotive manufacturing industry, Sweden’s Autoliv and Michigan’s TRW, are under investigation by the antitrust divisions of both the U.S. Department of Justice (“DOJ”) and the European Commission (“EU”).
Both companies are multi-billion dollar corporations that supply safety systems, such as seatbelts, airbags and steering wheels, to automakers. Autoliv and TRW each operate on a global scale, employing thousands of people worldwide.
The EU recently conducted surprise visits to Autoliv and TRW manufacturing facilities in Germany. A spokesman for the Commission said that there “is reason to believe that the companies concerned may have violated EU antitrust rules that prohibit cartels and restrictive business practices.”
In the U.S., the DOJ is overseeing a similar investigation and has subpoenaed documents from both TRW and Autoliv.
In keeping with their policies, neither agency has provided details of these ongoing investigations.