COMMISSION PROBE
Autoliv to pay R150m collusion penalty
The penalty is among the highest imposed by the commission so far in 2017
One of the world’s largest makers of air bags, seat belts and steering wheels, Autoliv Southern Africa, has agreed to pay an administrative penalty of almost R150m after admitting to the Competition Commission that it had contravened the Competition Act. The penalty is among the highest imposed by the commission so far in 2017. The Stockholm-based multinational is listed on the New York and Stockholm stock exchanges and employs 70,000 people worldwide. It entered SA through a joint venture in 1991. Autoliv Southern Africa concluded the settlement agreement with the commission for its involvement in prohibited practices such as price fixing, market division and collusive tendering with its competitors, namely large US multinational TRW and three Japanese automotive component multinationals Takata Group, Toyoda Gosei and Tokai Rika. According to the commission, these collusive practices date back to 2001. The settlement follows a commission probe into collusive conduct by these manufa...
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