Since June 2011, Autoliv has been subject to an investigation of anti-competitive behavior among suppliers of occupant safety systems in the European Union. Today, the company provided an update on the investigation.
In a statement today, Autoliv says it has been cooperating with the European Commission’s (EC) investigation. The EC previously imposed a fine of roughly 8.1 million euro (about $9.2 million) that was paid during the first quarter of 2018.
Autoliv management says it now has reason to believe that the EC will seek to impose an additional fine in connection with the remaining portion of the EC investigation. The company announced that it will earmark $210 million in the fourth quarter of 2018, in order to pay this second fine.
The company believes that the fine could be issued during the first half of 2019, and would be payable within 90 days after the investigation is ultimately resolved.