CINCINNATI (AP) — The U.S. Justice Department says an auto
parts manufacturer accused in a price-fixing conspiracy has agreed to
plead guilty and pay a fine of $19.9 million.
Federal officials
allege Showa Corp., based in Japan, had agreed to rig bids and fix
prices for some powered steering assemblies sold to Honda Motor Co. and
some of its subsidiaries.
Showa Corp. is charged in U.S. District
Court in Cincinnati with one count alleging it participated in a
conspiracy to suppress competition.
A Wednesday statement from the Justice Department says the plea agreement is subject to court approval.

The
department is conducting a wide-ranging investigation into price-fixing
and bid-rigging in the parts industry. Authorities say 27 companies and
two dozen executives have pleaded guilty or agreed to plead guilty as a
result.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
CINCINNATI (AP) — The U.S. Justice Department says an auto
parts manufacturer accused in a price-fixing conspiracy has agreed to
plead guilty and pay a fine of $19.9 million.
Federal officials
allege Showa Corp., based in Japan, had agreed to rig bids and fix
prices for some powered steering assemblies sold to Honda Motor Co. and
some of its subsidiaries.
Showa Corp. is charged in U.S. District
Court in Cincinnati with one count alleging it participated in a
conspiracy to suppress competition.
A Wednesday statement from the Justice Department says the plea agreement is subject to court approval.

The
department is conducting a wide-ranging investigation into price-fixing
and bid-rigging in the parts industry. Authorities say 27 companies and
two dozen executives have pleaded guilty or agreed to plead guilty as a
result.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.