Skip to main content
Sister Publication Links
  • Rubber & Plastics News
Subscribe
  • My Account
  • LogIn
  • News
  • Technology Focus
    • Features
    • Technical Papers
    • Analysis: Rubber mixing plants of the future
      Analysis: US probes dumping by ESBR suppliers
      Opinion: Tire labels stuck in a rut
      Analysis: NR pricing takes one step forward, two steps back
    • White paper: Role of tire innerliners in improving 'in-use rolling resistance'
      White paper: Why tire air retention matters now more than ever
      Nippon Soda: Use of 1,2-polybutadiene in CSM rubber applications
      Elastomers for Sustainability Top 10
  • Events
    • ERJ Events
    • ERJ Livestreams & Webinars
    • Industry Events
    • Journey to Automation Awards 2020
      Sustainability: Top 10 E4S projects table
  • Maps & Reports
  • People
  • Directory
  • Digital Edition
  • Brainiac
MENU
Breadcrumb
  1. Home
  2. News
October 17, 2017 12:00 AM

Toyo reaches settlement in price-fixing case

Patrick Raleigh
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Detroit, Michigan –  Toyo Tire & Rubber Co. is among the latest auto parts companies that have agreed pay multi-million-dollar settlements to resolve allegations that they fixed prices and rigged bids.

    Automotive dealer plaintiffs filed a proposed settlement 12 Oct  with the US district court before the eastern district of Michigan in which Toyo would pay $11.4 million to resolve claims regarding alleged price fixing in the sale of rubber anti-vibration parts.

    Toyo also agreed to offer total cooperation with the ongoing litigation, including witness interviews and depositions, and production of documents, according to the agreement.

    In December 2013, Toyo pleaded guilty to two separate conspiracies involving anti-vibration parts, and agreed to pay a fine of $120 million.

    Toyo officials could not be reached for comment.

    Bridgestone, meanwhile, agreed to pay $29.6 million to settle a multidistrict litigation suit alleging that the company fixed prices and rigged bids in the sale of rubber automotive anti-vibration parts.

    End-payor plaintiffs (EPPs) in the Bridgestone case filed the agreement 9 Oct before the US district court before the eastern district of Michigan.

    RECOMMENDED FOR YOU
    German rubber industry to return to double-digit growth in 2021
    German rubber industry to return to double-digit growth in 2021
    Yokohama rings the changes with YX2023
    Yokohama rings the changes with YX2023
    Synthomer dismisses takeover reports
    Synthomer dismisses takeover reports
    Free Newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Get the latest news impacting the European rubber industry, from breaking news to razor-sharp analysis, in print and online.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter
    • Youtube

    Logo
    Contact Us

    @ 2019 European Rubber Journal. 
    European Rubber Journal is published bi-monthly by NUERJ Ltd.

    Registered Office: Castle House, 89 High Street,
    Berkhamsted, Hertfordshire HP4 2DF, United Kingdom. 

    Tel. + 44 (0)203 196 0141 

    Registered No. 13104613 England

    Email: [email protected]

    Website www.european-rubber-journal.com

    Customer service 

    Tel. + 44 (0)203 196 0141 

     

    Resources
    • About us
    • Contact Us
    • Advertise with Us
    • Media Kit
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac