January 30, 2014 13:10 ET
Second to Plead Guilty in Bearings Bid-rigging Investigation
OTTAWA, ONTARIO--(Marketwired - Jan. 30, 2014) - Competition Bureau
NSK Ltd. (NSK), a Japanese bearings manufacturer, pleaded guilty today to two counts of bid-rigging under the Competition Act and was fined $4.5 million by the Superior Court of Quebec in Gatineau for its participation in an international bid-rigging cartel.
NSK's plea relates to automotive wheel hub unit bearings supplied to Toyota Motor Manufacturing Canada Inc. (Toyota) between 2007 and 2013.
The evidence shows that NSK secretly conspired with JTEKT Corporation (JTEKT), another Japanese bearings manufacturer, to submit bids or tenders in response to requests for quotations to supply Toyota.
"Bid-rigging has a negative impact on all Canadians and cracking down on cartel offences continues to be a top priority for the Bureau. Bid-rigging deprives those seeking goods or services of the benefits of a competitive bidding process and the resulting competitive prices."
John Pecman, Commissioner of Competition
- On July 12, 2013, JTEKT Corporation pleaded guilty to two counts of bid-rigging under the Competition Act and was fined $5 million for its participation in an international bid-rigging cartel.
- Immunity Program
- Leniency Program
- Presentation: Bid-rigging: Awareness and Prevention
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