Ottawa slaps Toyo Tires with $1.7M fine for bid-rigging
The penalty is part of a years-long international auto components bid-rigging probe
OTTAWA—Japanese tire manufacturer Toyo Tire & Rubber has will pay a $1.7-million fine after pleading guilty 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.
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.