Stuttgart and Brussels – The EU Commission today imposed fines totaling 151.5 million euros on a number of automotive suppliers. The fines relate to anticompetitive practices between 2000 and 2011. These practices concerned certain spark-plug and brake products. The case, which has now been closed by the EU Commission, is one of a series of investigations into the automotive supply industry as a whole conducted by antitrust authorities worldwide since 2010. Bosch cooperated closely with the European Commission to clarify all the details of the matter. For unfair practices relating to individual spark-plug and brake products, the company has to pay a fine totaling 77.2 million euros. In the case of spark-plug products, the fine is 45.8 million euros, and in the case of brake products 31.4 million euros.
Bosch does not tolerate any infringements of company guidelines and the company’s values code, as it places great importance on legal compliance and good business conduct. Bosch upholds the principle of unfettered competition, and strives to achieve a leading market position solely on the basis of the performance and quality of its products.
The technology and services company now has a modern compliance organization, which advises associates and supports them in making the right decisions. It keeps Bosch associates informed and provides them with training on all relevant compliance issues. In all, more than 150,000 associates worldwide have already received training on the Bosch code of business conduct, and around 80,000 associates have been trained on antitrust law. The compliance organization is also responsible for monitoring and, if necessary, investigating any instances of non-compliance with guidelines.
Entitle is a pioneering privilege management solution that discovers, manages, and automates just-in-time (JIT) access and modern identity governance and…
Available freely to Samtec customers under NDA, SIBORG (Signal Integrity Breakout Region Guru) works with Ansys HFSS 3D Layout to…
Entire NR1 system purpose-built for a more affordable AI infrastructure allowing for faster deployment; furthering AI’s reach into more parts…
Following rapid growth in its customer base to over 400, funding will fuel further AI development and create a hybrid…
The addition of EA’s high-efficiency regenerative power supplies greatly expands Tektronix’s trusted offering Tektronix, Inc, a leading provider in test…
Melexis reveals its groundbreaking Induxis® switch, the MLX92442. Contactless, magnet-free, and strayfield immune, this monolithic solution directly detects conductive targets.…