Toray to pay US$15 million in US carbon fibre price fixing settlement.
The US Justice Department has announced that Japan's Toray Industries Inc and its US subsidiary have agreed to pay US$15.24 million to settle a lawsuit alleging conspiracy to fix carbon fibre prices for US aircraft, ammunition and satellites.
The Justice Department also said that Toray
"Today's settlement should send a message to those who deal with the government, both directly and indirectly, that prices charged for products sold to the United States must be competitive," said Gregory Katsas, acting assistant attorney general of the US Justice Department's civil division.
Nevertheless, while confirming that it has reached agreement on paying a sum, Toray says that it has consistently denied this allegation during the litigation process and it did not admit to such a claim in the recent settlement.
For further information, contact: Toray Industries Inc, Toray Building, 2-1 Nihonbashi-Muromachi 2-chome, Chuoku, Tokyo 103-8666, Japan; tel: 3-3245-5115; Internet: www.toray.com
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