Exclusive: EU regulators to fine car parts cartel next week - sources

Published July 05, 2013

| Reuters

EU antitrust regulators will penalize a group of car parts companies next week for taking part in a cartel, two people familiar with the matter said on Friday.

The sanctions by the European Commission follow an 11-month investigation into the companies which make electric wire systems that power up a car's electronic components, linking the vehicle's computers to various functions. The systems are also known as wire harnesses.

"The wire harnessing decision will be next week," said one of the people, who declined to identify the companies because of the sensitivity of the matter.

The sources said 11 companies had been initially targeted but several were subsequently dropped from the investigation.

The 11 companies initially targeted are Leoni , Furukawa Electric Co <5801.T>, Yazaki, Denso <6902.T>, Sumitomo Electric <5802.T>, Delphi Automotive , Visteon Corp , S-Y Systems Technologies Europe GmbH, G.S. Electech, Fujikura Ltd <5803.T> and Lear Corp .

(Reporting by Foo Yun Chee; Editing by Adrian Croft)

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