WASHINGTON Nov 27 Japan's Stanley Electric Co
Ltd has agreed to pay a $1.44 million criminal fine and
plead guilty to a charge that it conspired to fix the prices of
certain auto parts, the U.S. Justice Department said on
The company agreed to plead guilty to a single count of
price-fixing of lamp ballasts, which regulate the electric
current to create bright headlights. Stanley sold lamp ballasts
to automakers in the United States and elsewhere.
The company has also agreed to cooperate with the U.S.
investigation, the Justice Department said in a statement.
The Justice Department and antitrust enforcers elsewhere
have brought charges related to price fixing of more than 30
types of car parts, including seat belts, radiators, windshield
wipers, air-conditioning systems, power window motors and power
Including Stanley, 23 companies have pleaded guilty or
agreed to plead guilty in connection with the U.S. probe.
Twenty-six executives have been charged.