CSS finds 4 Japanese bearings manufacturers with infringement
Resource from: AsiaOne Likes:155
Dec 18,2013
SINGAPORE - The Competition Commission of Singapore (CCS) has issued a Proposed Infringement Decision (PID) against four Japanese bearings manufacturers and their Singapore subsidiaries.
The four companies are JTEKT Corporation and its Singapore subsidiary, Koyo Singapore Bearing (Pte) Ltd, NSK Ltd. and its Singapore subsidiary, NSK Singapore (Pte.) Ltd, NTN Corporation and its Singapore subsidiary, NTN Bearing-Singapore (Pte) Ltd, and Nachi-Fujikoshi Corp and its Singapore subsidiary, Nachi Singapore Private Limited.
The companies were found to have infringed section 34 of the Competition Act (Cap.50B) (the "Act") by engaging in anti-competitive agreements and unlawful exchange of information in respect to the price of ball and roller bearings sold to customers in Singapore.
Ball and roller bearings are machine components that separate moving parts and take up loads. Both parent and subsidiary company were found to be jointly and severally liable for the infringement.
CCS commenced its investigations into the companies after receiving an application for immunity under CCS's leniency programme from one of the companies involved in the cartel.
CCS's investigation revealed that the companies were competitors and met regularly at meetings both in Japan and Singapore where they exchanged information, discussed and agreed on sales prices for ball bearings sold to their respective customers in Singapore so as to maintain each participant's market share and protect their profits and sales.
The PID is a written notice setting out the facts on which CCS makes it assessment and its reasons for arriving at the proposed decision.
It is issued to give the parties concerned an opportunity to submit their arguments to CCS, and provide any other information for consideration, before CCS finalises its decision on whether there has been an infringement.
In this regard, all the parties have six weeks from the receipt of the PID to make their representations.
(AsiaOne)
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