Volkswagen, Daimler, BMW,Bosch and ZF in steel-buying cartel probe

Volkswagen, Daimler, BMW, and auto suppliers Bosch and ZF said they were co-operating with German authorities after their offices were searched as part of a steel price fixing investigation.

Germany’s cartel office said six car manufacturers and suppliers were searched on June 23 as part of an investigation into potential price collusion by companies purchasing steel.

“In total, 50 members of staff at the cartel authority took part. They were supported by police and criminal authorities,” a spokesman for the authority said, declining to detail which companies were subjected to the probe.