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Released: January 31, 2012
Japanese auto parts makers admit to price-fixing scheme
Source: Jerry Hirsch & Ken Bensinger, L.A.Times (Free Registration)
For more than a decade, executives at several major Japanese auto parts makers met in secret, sometimes speaking in code, to fix prices on wiring harnesses and other crucial components. The global conspiracy, which stretched from distribution centers in the U.S. heartland to corporate high-rises in Tokyo and Europe, remained undetected for years, according to U.S. government documents, allowing a small cadre of suppliers to effectively control the lucrative $30-billion market in automotive wiring.Read Full Article: Japanese auto parts makers admit to price-fixing scheme
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