Counterfeit SKF bearings seized in Czech Republic
2009 June 11, 14:15 CET
During April 2009 the SKF Group working in cooperation with the Czech police authorities made a raid and confiscated over 30 tons of counterfeit SKF bearings at a non-authorized dealer in the North-East region of the Czech Republic. In addition, products from other bearing manufacturers were confiscated.
This dealer has been purchasing these products from non-SKF sources and selling them to both end-users and other dealers in the Czech Republic as well as other countries, mainly in Europe.
The manufacture and trade of counterfeit products is a growing global problem which increasingly affects all brands and all markets. Counterfeit SKF products and other bearing brands being manufactured and sold in the marketplace is not only illegal but also puts the end customer at a major risk since they purchase and use these products thinking that they have received genuine products. The use of counterfeit SKF products in an application can in worst case put the user, employees and the public in a serious safety risk or result in shorter service life, poor product quality or damage to equipment.
"Our commitment to fight both the manufacture of counterfeit products and the trade in them is not only about protecting the SKF brand. It is also about protecting our customers and the public from a potentially serious safety risk and from being cheated into paying for a genuine SKF product and being supplied a fake alternative,” says Tom Johnstone, President and CEO of AB SKF.
“We are actively and persistently working on this both internally, with the World Bearing Association and with local law enforcement authorities to ensure that manufacturers and traders of counterfeit products are revealed and brought to justice. In this particular case it is very good to see that our commitment pays off,” Tom Johnstone continues.
Göteborg, 11 June 2009
|AB SKF may be required to disclose the information provided herein according to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 14.15 CEST on 11 June 2009.
For further information, please contact:
PRESS: Ingalill Östman, SKF Group Communication, tel: +46 31-337 3260, mobile: +46 706-973260, e-mail: firstname.lastname@example.org
IR: Marita Björk, SKF Investor Relations, tel: +46 31-337 1994, mobile: +46 705-181994, e-mail: email@example.com
SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group’s service offer includes technical support, maintenance services, engineering consultancy and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. The Group’s annual sales 2008 were SEK 63,361 million. The number of employees was 44,799.