Bosch agrees to Pays Hefty U.S. Fine for Price Fixing

In a statement made today by the U.S. Department of Justice, German auto parts manufacture Robert Bosch GmbH will plead guilty to conspiring to rig bids for starter motors, oxygen sensors and sparks plugs sold to Ford Motor Co., General Motors and Chrysler Automobiles between 2000 and 2001.

According to Justice Department a one count felony indictment was filed against Bosch today, the single count indictment includes a conspiracy by the company with other suppliers to fix starter motors that were sold between January 2009 – June 2010 to Volkswagen AG and its U.S. subsidiaries.

In a written statement by Deputy Assistant Attorney General Brent Snyder of the Antitrust Division’s Criminal enforcement Program stated, “Collusion related to automotive parts was global in nature, as are our efforts to hold responsible companies and individuals accountable for the resulting harm to U.S. consumers and businesses.

 In a statement made by Bosch’s spokesperson Linda Beckmeyer said, “Right from the start of the process Bosch cooperated fully with U.S. authorities and the fact that such misconduct could happen prompted Bosch to further improve its existing processes to ensure compliance within the Bosch Group and to enhance awareness of the company’s values worldwide.”

Bosch will pay a fine of 57.8 million dollars for its role in the price fixing.