Tag: price-fixing

Tyremakers among 52 automotive suppliers in US$23 million antitrust settlement

6th December 2019 | 0 Comments

Tyre manufacturers Toyo, Bridgestone and Continental are amongst the 52 automotive suppliers that paid a total of $23 million in settlements for antitrust law violations in California, USA.

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Scania fined for price fixing

9th October 2017 | 0 Comments

The European Commission (EC) has fined Scania more than €880 million (£770m) for its participation in a truck cartel. Scania was the sixth and final manufacturer implicated in the price-fixing scandal, but decided against settling with the EC last year. The five other truck manufacturers – MAN, Volvo/Renault, Daimler (Mercedes-Benz), Iveco and DAF – were collectively fined €2.93bn (£2.57bn) after admitting wrongdoing.

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US Justice Department indicts current, former Bridgestone executives

16th April 2014 | 0 Comments

The US Justice Department indicted one Bridgestone Corporation executive and two former officials for conspiring to fix the prices of certain automotive parts, reports Tire Review. Bridgestone itself agreed in February to plead guilty to price-fixing, paying a $425 million criminal fine. The case involves anti-vibration parts used in automotive suspension systems and engine mounts.

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Repeat offending the reason for Bridgestone’s US$425 million fine

14th February 2014 | 0 Comments

Earlier today, Bridgestone shared news that it has entered into a plea agreement with the US Department of Justice on antitrust activities and accepted a $425 million fine. But it omitted to mention that the amount to be paid is so large because this isn’t the first time Bridgestone has been found guilty of price-fixing in the United States. In a statement published yesterday, the Department of Justice confirmed that Bridgestone’s failure to disclose its participation when pleading guilty to other violations in October 2011 was a “factor in determining the $425 million fine.”

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Price-Fixing Investigation Into Chemical Firms

11th October 2002 | 0 Comments

Three companies which supply chemicals for tyre manufacturing are being investigated for possible price fixing. Investigations are on-going in both the USA and Europe into Bayer AG, Flexsys NV and Crompton Corp. Experts estimate that sales of rubber-processing chemicals in the USA are worth around $900 million annually.

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