Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
CLEVELAND (AP) — The U.S. Justice Department says a Japanese auto parts manufacturer has agreed to pay a $26 million fine and to plead guilty to fixing prices and rigging bids for various parts sold to automakers in the U.S.
The federal government says Toyoda Gosei Co. Ltd. was charged in U.S. District Court in Toledo on Monday with two counts of price fixing regarding sales of automotive hoses, air bags and steering wheels to Toyota Motor Corp. and to Fuji Heavy Industries Ltd., which makes Subarus.
The Justice Department says Toyoda, based in Aichi, Japan, and its co-conspirators have agreed to cooperate in the criminal case.
Toyoda says a company spokesman was not immediately available for comment Monday.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
