Airbag, seat belt manufacturer pays R150m penalty on collusion charge

One of the world’s largest manufacturers of airbags, seatbelts and steering wheels has agreed to pay an administrative penalty of almost R150-million following its admission of having contravened the Competition Act. Autoliv has concluded a settlement agreement with the Competition Commission for its involvement in prohibited practices such as price fixing, market division and collusive tendering with its competitors, namely, TRW, Takata Group, Toyoda Gosei and Tokai Rika. The settlement …