Competition Bureau fines Toyo Tire $1.7M in bid rigging scheme
Punishment related to Toyo's participation in the supply of anti-vibration components to Toyota Motor Corp.
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OTTAWA — Japanese tire manufacturer Toyo Tire & Rubber 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.
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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.
To date, the bureau says its investigation involving motor vehicle components has resulted in eight guilty pleas and more than $58 million in fines imposed by the courts since April 2013.
© 2015 The Canadian Press
