Subscribe
PLANT

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.


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.

RELATED:

DENSO pleads guitly in auto parts big rigging case

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

Have your say:

Your email address will not be published. Required fields are marked *

*