Canadian agency fines Toyo for alleged bid rigging
Ottawa – Canada’s Competition Bureau has fined Toyo Tire & Rubber Co. Ltd. CAD$1.7 million (€1.1 million) after Toyo pleaded guilty to three counts of participating in an international bid-rigging conspiracy involving the sale of anti-vibration components to Toyota Motor Co. Ltd.
Between June 2004 and August 2006, Osaka, Japan-based Toyo engaged in secret agreements with other suppliers of anti-vibration components in response to Toyota’s request for quotes for certain Corolla, RAV 4 and Lexus 350 RX models, the Competition Bureau said.
The anti-vibration components in question are rubber and metal parts of varying shapes and sizes that are usually custom-designed for specific auto models to reduce noise and vibrations, the agency said.
The Competition Bureau began its investigation of alleged bid-rigging in auto parts in December 2009. Since then, eight auto component suppliers have pleaded guilty and paid total fines of more than $58 million, according to the agency.
Toyo declined comment on the Competition Bureau fine.