Bridgestone to Pay $425 Million Fine in Price-Fixing Case

Bridgestone Corp. (5108) agreed to pay a $425 million fine and plead guilty to conspiring to fix prices for auto parts, the U.S. Justice Department said.

Bridgestone, based in Tokyo, engaged in a conspiracy to allocate sales and fix prices of anti-vibration rubber parts installed in cars sold in the U.S., the department said in a statement today.

The case stems from the Justice Department’s ongoing antitrust investigation into price-fixing and bid-rigging in the auto-parts industry. Companies have agreed to pay a total of more than $2 billion in criminal fines.

In October 2011, Bridgestone pleaded guilty and paid a $28 million fine for price-fixing and violating anti-bribery laws. At the time, it didn’t disclose that it had also participated in the anti-vibration rubber parts conspiracy, the U.S. said.

A phone call to Bridgestone wasn’t immediately returned.

To contact the reporter on this story: David McLaughlin in Washington at dmclaughlin9@bloomberg.net

To contact the editor responsible for this story: Sara Forden at sforden@bloomberg.net

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