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Japanese auto parts maker Showa agrees to plead guilty to price-fixing

( April 23, 2014, 13:37 GMT | Official Statement) -- MLex Summary: The US Department of Justice has announced that Japanese auto parts manufacturer Showa has agreed to plead guilty and to pay a $19.9 million criminal fine for its role in a conspiracy to fix prices and rig bids for pinion-assist type electric powered steering assemblies sold to Honda and certain of its subsidiaries. Showa’s involvement in the conspiracy lasted from at least as early as 2007 until as late as September 2012, according to the one-count information filed in Ohio federal court. Release follows below:...

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