SKF and Daimler settle legal dispute
Gothenburg, 30 November 2018: SKF and Daimler AG (Daimler) have today entered into a settlement agreement with respect to their dispute before the regional court Nuremberg-Fuerth in Germany regarding damage claims resulting from the European Commission’s decision on the violation of European competition rules with respect to automotive bearings. Daimler initiated this lawsuit against SKF GmbH in June 2017. The parties agreed to treat details of the settlement as confidential.
This settlement is not an admission of liability for damages, but is made in order to enable SKF and Daimler to continue their long-standing commercial relationship.
The settlement will have an insignificant impact on the financial position of the Group.
The information in this press release is information which AB SKF is required to disclose under the EU Market Abuse Regulation (EU) No 596/2014. The information was provided by the above contact persons for publication on 30 November 2018 at 17:15 CET.
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SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2017 were SEK 77 938 million and the number of employees was 45 678. www.skf.com
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