German Authorities Search Auto Manufacturers' Offices in Steel-Price Collusion Investigation
07/05/2016 - German antitrust regulators have opened an investigation into whether the country’s leading automakers and two of the world’s biggest parts suppliers were fixing prices for the steel they bought, according to reports.
The Wall Street Journal said the investigation includes Volkswagen AG, Daimler AG and BMW AG. Parts suppliers Robert Bosch GmbH and ZF Friedrichshafen AG also are involved, The Journal said.
The Reuters news service reported that Volkswagen, Daimler and BMW confirmed their offices had been searched and said they are cooperating with investigators.
German authorities also confirmed that they had conducted a search in relation to the investigation, The Local news network reported.
"I can confirm that on June 23, 2016, the Bundeskartellamt (federal competition watchdog) conducted a search related to the purchasing of steel in the auto and autopart industries," Bundeskartellamt spokeswoman Kay Weidner told The Local in a statement.
The Reuters news service reported that Volkswagen, Daimler and BMW confirmed their offices had been searched and said they are cooperating with investigators.
German authorities also confirmed that they had conducted a search in relation to the investigation, The Local news network reported.
"I can confirm that on June 23, 2016, the Bundeskartellamt (federal competition watchdog) conducted a search related to the purchasing of steel in the auto and autopart industries," Bundeskartellamt spokeswoman Kay Weidner told The Local in a statement.
