Japan Bearing Co. Fined $5M In Canada For Role In Cartel

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Law360, New York (July 12, 2013, 7:02 PM ET) -- A Canadian court has fined Japan's JTEKT Corp. CA$5 million (US$4.8 million) after the company pled guilty to rigging bids on bearings supplied to a Toyota Motor Corp. unit in Canada, the country's competition regulator said Friday.

The Superior Court of Quebec handed down the fines against JTEKT, following the Japanese bearing manufacturer's guilty pleas to two counts of bid-rigging, the Canadian Competition Bureau said in a statement. JTEKT pled guilty to taking part in an international cartel affecting the supply to Toyota Motor Manufacturing Canada...

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Source: http://www.law360.com/competition/articles/456989

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