The Australian Federal Court orders by consent payment of penalties for involvement in cartel conduct in relation to the price of bearings (Nachi / Koyo)

$3 million penalty for bearings cartel conduct* The Federal Court has today [1] ordered by consent that NSK Australia Pty Ltd (NSK Australia) pay total penalties of $3 million for its involvement in cartel conduct in relation to the price of bearings in Australia, in proceedings brought by the Australian Competition and Consumer Commission (ACCC). The Court held that from at least 2000 to May 2011, the senior Japanese executives residing in Australia of NSK Australia and two other bearings companies, Nachi (Australia) Pty Ltd (Nachi Australia) and Koyo Australia Pty Ltd (Koyo

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Australian Competition Authority, The Australian Federal Court orders by consent payment of penalties for involvement in cartel conduct in relation to the price of bearings (Nachi / Koyo), 13 May 2014, e-Competitions Bulletin May 2014, Art. N° 66364

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