AB SKF reaches settlement with the European Commission

Wednesday, 19 Mar 2014 07:00am EDT 

AB SKF:Reaches settlement with the European Commission in a case regarding supply of bearings to the European automotive manufacturing industry.Agrees to pay 315,109,000 euros (around 2,8 billion Swedish crowns).Says the settlement amount is covered by the earlier announced provision made by SKF already in Q4 results 2013.Decision of the European Commission covers violations of European competition rules with respect to sales of bearings to the automotive manufacturing industry in Europe.SKF was one of six bearing manufacturers involved in the investigation.Says the settlement decision makes no finding that SKF's top management had involvement or knowledge in the conduct at issue. 

Company Quote

0.07 +0.34%
18 Sep 2014