Recently, the US Department of Justice announced that Corning's Japanese subsidiary is suspected of manipulating the price, bidding and sales of its ceramic substrates for the US market and other regions. These ceramic substrates are used in catalytic converters and supplied to automobiles in the US and other regions. manufacturer. Corning’s Japanese subsidiary has pleaded guilty and agreed to pay a $66.5 million criminal fine.
According to the criminal allegation file of the Eastern District Court of Michigan, the Japanese subsidiary of Corning, based in Tokyo, had been plotting to manipulate the price of ceramic substrates, bidding and marketing from July 1999 until July 2011.
The product is installed in automotive emission control systems and is supplied to automotive manufacturers in the US and other regions, including Ford Motor Company, General Motors, Honda Motor Co., Ltd., as well as certain subsidiaries, affiliates and supplies of these companies. Business. Corning's Japanese subsidiary agreed to cooperate with the ongoing investigation by the Judiciary and the guilty plea will comply with the court's approval.
Brent Snyder, deputy assistant attorney general of the US Department of Justice's antitrust division, said Corning's Japanese subsidiary and its former executive Nobuhiko Niwa had been sued last week for providing emissions systems for cars manufactured and sold in the US and elsewhere. When it comes to important parts, it takes more than ten years to conspiracy to sell these important parts. Now they are responsible for the damage caused by their own competition.
David P. Gelios, an agent in charge of the investigation at the FBI's Detroit branch, said Corning's Japanese subsidiary conspiring to manipulate bids and price limits to increase its revenues, causing automakers, suppliers, and ultimately consumers to pay for it. cost. Attempts to undermine the free market system will harm our economy and thereby harm consumers, so we will actively investigate and prosecute.
Forty companies related to the survey, including Corning's Japanese subsidiary, have been sued, and they have agreed to pay more than $2.7 billion in crime fines. In addition, 59 people have been sued, including Nobuhiko Niwa, a former executive of Corning’s Japanese subsidiary. A federal grand jury in eastern Michigan has sued Nobuhiko Niwa, accusing him of alleged conspiracy, and Nobuhiko Niwa is Japanese. Niwa was accused of involvement in conspiracy manipulation from July 1999 to July 2011.
Wire Mesh Products,Water Filters,Cutting Oil Filters,Shale Shaker Screen
Anping Guangtong Hardware Wire Mesh Co.,Ltd , https://www.gthardwaremesh.com