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Canada Competition Bureau fines Toyo Tire US$1.2m

By Roger Stansfield | 11 December 2015

Canada's Competition Bureau, says Toyo Tire & Rubber has pleaded guilty to three counts of bid rigging under the Competition Act and has been fined C$1.7m (US$1.2m) for its participation in an international bid-rigging conspiracy related to the supply of anti-vibration components to Toyota.

The Competition Bureau's investigation found 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's investigation involving motor vehicle components has resulted in eight guilty pleas and more than C$58m in fines imposed by the courts since April, 2013.