Panasonic, Whirlpool Subsidiary Plead Guilty to U.S. Price-Fixing

Sept. 30, 2010
Justice Department hints more charges may be on the way.

Japanese electronics giant Panasonic and a subsidiary of Whirlpool have agreed to plead guilty to price fixing and pay a $141 million fine, the U.S. Department of Justice said on Thursday.

"Panasonic Corporation and a Whirlpool Corporation subsidiary, Embraco North America Inc., have agreed to plead guilty and to pay a total of $140.9 million in criminal fines for their role in an international conspiracy to fix the prices of refrigerant compressors," the department said.

The Justice department hinted that more charges may be on the way but did not name the firms still under investigation.

"These are the first charges as a result of the antitrust division's ongoing investigation into the worldwide refrigerant compressors market," said Christine Varney, an assistant attorney general.

"We are committed to investigating and bringing to justice those who engage in this kind of international price-fixing."

The Justice Department said the two firms had met to coordinate prices for household and light commercial compressors for around three years from October 2004.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

The Year of Results: Four Expectations for 2024 Manufacturing

Feb. 1, 2024
In 2024 manufacturers will need to focus on results, from achieving operational excellence to enhancing digital transformation, to navigating compliance. Stay ahead with crucial...

Get ready for CLOUD 9: Nine reasons to move to the Microsoft Cloud

Jan. 24, 2024
With pioneering AI (Copilot, built on OpenAI) and best-in-class low code development tools (Power Platform), the Microsoft Cloud has no equal. Learn a whole lot more in in “Moving...

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

How to Build a Predictive Maintenance Program: Lessons Learned from LSB Industries’ Success

Dec. 21, 2023
Register today and join this webinar to gain insight on best practices for setting up a predictive maintenance program from industry experts.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!