Italian firm to plead guilty in US bid rigging case

Newswire

WASHINGTON, July 28 (Reuters) - An Italian-based manufacturer and the former president of its U.S. subsidiary have agreed to plead guilty to charges that they were part of a conspiracy to rig bids and fix the prices of marine hose used to transport oil, the U.S. Justice Department said on Monday. Manuli Rubber Industries SpA and the president of its U.S. subsidiary, Robert Furness, agreed to pay more than $2 million in fines. In addition, Furness will serve 14 months in prison under a plea ...

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