A PYMNTS Company

Japan: Tire firm shut out for anticompetitive allegations

 |  February 13, 2014

Japan-based rubber company Sumitomo Rubber Industries has reportedly been abandoned by fifteen-year partner Goodyear Tire & Rubber Co., say reports, following allegations of Sumitomo’s anticompetitive behavior.

The two companies hold joint stakes in two ventures, Goodyear Dunlop Tire Europe and Goodyear Dunlop Tire North America.

Reports say Goodyear notified its onetime partner of plans to split last month.

In a statement, Goodyear said it was informed of Sumitomo’s alleged anticompetitive behavior, though the company declined to elaborate on what that behavior was.

Full Content: Nasdaq

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