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Escambia Receives Share Of $13 Million Auto Parts Price Fixing Settlement
January 6, 2023
Escambia County has received its share of Florida’s $13 million settlement in price fixing claims against major automotive parts manufacturers.
The county received $33,473.92 after the funds were divided between over 80 local governments affected by the companies’ practices.
Attorney General Ashley Moody said the funds came after an investigation of more than 60 manufacturers, including Hitachi, Panasonic and Mitsubishi Electric. The investigation into the companies’ conduct found evidence of the manufacturers fixing prices and rigging contract bids. As a result of the companies’ actions, public entities paid more for vehicles needed for public services, including police cruisers.
“These automotive parts manufacturers set high prices and rigged contract bids, causing local and our state governments to spend more for vehicles needed for essential public services, like police cruisers. I’m proud to announce the conclusion of our investigation into these companies’ conduct and secure more than $13 million for the entities around the state that were affected,” Moody said.
The investigation found evidence that the conduct of approximately 60 companies likely violated antitrust laws. The companies, including major suppliers of automotive parts, engaged in activities that increased the price of many items, including lamps, radiators, air conditioning systems and air bags. As a result of this conduct, Florida public entities paid more for the vehicles needed to perform necessary public services, like police cruisers.
According to Moody, companies investigated include: Aisan Industry Co., Aisin Seiki, Alpha Corporation, Alps, Autoliv, Bosch, Bridgestone Corp., Brose Schliebsysteme, Calsonic, Chiyoda, Continental, Corning International, Delphi, Denso, Diamond Electric, Eberspacher, Faurecia SA, Fujikura, Furukawa, G.S. Electech, Green Tokai, Hitachi, Hitachi Metals, Inoac, JTEKT Corp, Keihin, Kiekert AG, Koito Mfg, KYB, Lear, Leoni, MAHLE Behr GmbH, Maruyasu Industries Co., Meritor, Mikuni, Mitsuba Corp, Mitsubishi Electric, Mitsubishi Heavy Ind., Nachi-Fujikoshi, NGK Insulators, NGK Spark Plug, Nippon Seiki, Nishikawa Rubber, NSK Ltd., NTN, Omron, Panasonic Corp., Sanden, Sanoh Industrial Co., Schaeffler, Showa Corp, SKF, Stanley Electric, Sumitomo, Sumitomo Riko, T.Rad, Tenneco, Tokai Rika Co., Toyo Denso, Toyo Tire & Rubber, Toyoda Gosei, TRW, Usui Kokusai Sangyo, Valeo Japan Co., Yamada, Yamashita Rubber and Yazaki.
Comments
One Response to “Escambia Receives Share Of $13 Million Auto Parts Price Fixing Settlement”
13 million divided by the 66 companies listed is about 197K each.
The 66 companies are laughing at this unfortunately and that’s a boat load of companies that took part. Perhaps they shouldn’t have settled for so cheap?