Bridgestone has pleaded guilty to charges brought by the Department of Justice (DoJ) and agreed to pay a criminal fine of $28 million.

Bridgestone was charged, under the Sherman Act and Foreign Corrupt Practices Act, with conspiracy to rig bids for rubber hose and related products, and with conspiracy to make corrupt payments to foreign government officials in Latin America.

The plea agreement, which is subject to court approval, recognised Bridgestone’s cooperation with the DoJ’s investigation and its extensive remedial action, but also required the company to enhance its compliance programme and internal controls.