A PYMNTS Company

Canada: Watchdog fines Japan’s Toyo Tire in bid-rigging plot

 |  December 10, 2015

Canada’s Competition watchdog said on Wednesday it has fined Japanese car and truck tire maker Toyo Tire & Rubber C$1.7 million for its alleged participation in an international bid-rigging conspiracy.

The Competition Bureau said the bid-rigging conspiracy is tied to the supply of anti?vibration components to Toyota Motor.

The independent Canadian law enforcement agency that ensures businesses operate competitively said its investigation found that between June 2004 and August 2006, Toyo engaged in secret pacts with other suppliers of anti-vibration parts in response to requests for quotes issued by Toyota for certain Corolla, RAV 4 and Lexus models.

To date, the Bureau’s investigation involving motor vehicle components has resulted in some eight guilty pleas and over C$58 million in fines imposed by the courts since April 2013.

Full content: Business News Network

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.