Report: Goodyear Subpoenaed in Hose Price-Fixing Case

(Akron/Tire Review) The Toronto Star reported today that Goodyear Tire & Rubber Co. received a U.S. grand jury subpoena related to a global price-fixing investigation that has already brought the arrests of executives from Bridgestone, Trelleborg, Continental and Yokohama. The three-continent investigation concerns alleged price fixing and bid rigging in the marine hose industry.

Goodyear confirmed to the newspaper that it had received the subpoena on May 2 and is cooperating with U.S. Justice Department officials, but is not believed to be a target in the international investigation.