TRW Facilities Visited By Antitrust Authorities
LIVONIA, Mich. (AP) — TRW Automotive Holdings Corp. said Monday that some of its occupant safety systems business unit locations in Germany were visited by European authorities last month as part of an ongoing antitrust investigation.
TRW, which makes brake, steering and safety systems, said it also received a related subpoena from the U.S. Department of Justice.
Its shares fell 97 cents, or 1.7 percent, to $54.92 in morning trading.
Authorities in both Europe and the United States are investigating possible violations of antitrust laws among certain auto suppliers. The investigations often continue for several years and can result in significant penalties, TRW said.
Last week, Swedish seatbelt and airbag maker Autoliv Inc. also said that some of its facilities in Germany were visited in June by antitrust authorities.
TRW said that at this point it cannot estimate the financial impact resulting from the investigation. The company said it will fully cooperate with authorities.