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Toyo Tire to Pay $120 Million Price-Fixing Fine
The U.S. Dept. of Justice says Toyo Tire & Rubber Co. has agreed to pay a criminal fine of $120 million for conspiring to rig prices on anti-vibration parts it sold to Nissan, Subaru and Toyota.
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The U.S. Dept. of Justice says Toyo Tire & Rubber Co. has agreed to pay a criminal fine of $120 million for conspiring to rig prices on anti-vibration parts it sold to Nissan, Subaru and Toyota.
Toyo fixed prices on the components between 1996 and early 2012, according to the department.
The conspiracy charge is the latest in an international investigation into widespread price-fixing by suppliers in the U.S., Europe and Japan.
The Justice Dept. says 22 companies have been charged and agreed to pay some $1.8 billion in fines in the U.S. alone. Several executives of those companies also have been sentenced to prison terms.