Bridgestone Corp News

A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday. Romano Pisciotti, who is Italian, had been flown into the United States from Germany in early April in the first extradition on charges of breaking antitrust law, the department said. Marine hose is used to move oil between storage facilities and tankers. Five companies - Parker ITR, Bridgestone Corp…

The United States has extradited a former executive of an Italian marine hose manufacturer to face price-fixing charges in what the Justice Department said was its first extradition on antitrust charges. Romano Pisciotti, a former executive with Italy's Parker ITR SRL, was extradited from Germany and arrived in Miami on Thursday to face a single count of rigging bids and allocating market share in the marine hose industry, the department said. Marine hose is used to move oil between storage facilities and tankers. If convicted, Pisciotti could face 10 years in prison and a $1 million fine, the department said. Five companies - Parker ITR…