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Competition Bureau says Toyo Tire fined $1.7M in bid-rigging scheme

2015-12-10 01:54:09| Automakers - Topix.net

Japanese tire manufacturer Toyo Tire & Rubber has will pay a $1.7-million fine after pleading guilty today to three counts of bid-rigging under Canada's Competition Act. The Competition Bureau says the fine was punishment for Toyo's participation in an international bid-rigging conspiracy related to the supply of anti-vibration components to Toyota Motor Corp. The bureau says that between June 2004 and August 2006 Toyo engaged in secret agreements with other suppliers of anti-vibration components in response to requests for quotes issued by Toyota for certain Corolla, RAV 4 and Lexus 350 RX models.

Tags: competition bureau scheme tire

Category:Automotive

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