German Cartel Authority Raids Car Parts Makers

German Cartel Authority Raids Car Parts Makers

Canadian group Magna said that it was one of the companies targeted in the raids.

FRANKFURT -- The German competition watchdog has carried out searches at six car parts makers on suspicion of price-fixing, officials and one of the groups involved, Magna of Canada, (IW 1000/148) said Wednesday.

The Federal Cartel Office suspects the groups -- which it did not name -- of being involved in illegal price-fixing for car boot fittings and carpeting since 2002.

Canadian group Magna said that it was one of the companies targeted in the raids.

It said it would cooperate with the German authorities.

The searches were conducted in the states of Baden-Wuerttemberg, Hesse, Lower Saxony, North Rhine-Westphalia and Bavaria.

Copyright Agence France-Presse, 2013

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