SKF and PSA settle legal dispute
2018 April 27, 19:50 CEST
Gothenburg, 27 April 2018:
SKF and Peugeot S.A., and several group companies, (PSA) have settled their dispute before the Competition Appeal Tribunal in the United Kingdom regarding damage claims resulting from SKF’s settlement with the European Commission for violation of European competition rules. PSA initiated this lawsuit against several bearing manufacturers, among them AB SKF, in February 2016.
This settlement is not an admission of liability for damages, but is made in order to enable SKF and PSA 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 27 April 2018 at 19:50 CET.
For further information, please contact:
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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
® SKF is a registered trademark of the SKF Group.