NEWS

SKF settles last carmaker lawsuit over ball bearings cartel

<p style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:freight-book, serif;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;text-transform:none;font-weight:400;color:#313132;padding-bottom:0px;font-style:normal;padding-top:0px;padding-left:0px;border-left:0px;orphans:2;widows:2;margin:0px 0px 30px 86px;letter-spacing:normal;line-height:1.52;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-font-smoothing:antialiased;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left">  SKF (<span id="”symbol_SKFb.ST_0”" style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:inherit;border-right:0px;vertical-align:baseline;border-bottom:0px;padding-bottom:0px;padding-top:0px;padding-left:0px;border-left:0px;margin:0px;padding-right:0px;font-stretch:inherit;"><a style="border-left-width:0px;box-sizing:border-box;font-size:21px;word-wrap:break-word;text-decoration:none;font-family:inherit;border-right-width:0px;border-top-color:;vertical-align:baseline;border-bottom:#128fdd 1px dotted;border-left-color:;color:;padding-bottom:0px;padding-top:0px;padding-left:0px;margin:0px;border-right-color:;padding-right:0px;border-top-width:0px;font-stretch:inherit;border-image:initial;" href="https://www.reuters.com/finance/stocks/overview?symbol=SKFb.ST">SKFb.ST</a>) has reached a settlement with Daimler (<span id="”symbol_DAIGn.DE_1”" style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:inherit;border-right:0px;vertical-align:baseline;border-bottom:0px;padding-bottom:0px;padding-top:0px;padding-left:0px;border-left:0px;margin:0px;padding-right:0px;font-stretch:inherit;"><a style="border-left-width:0px;box-sizing:border-box;font-size:21px;word-wrap:break-word;text-decoration:none;font-family:inherit;border-right-width:0px;border-top-color:;vertical-align:baseline;border-bottom:#128fdd 1px dotted;border-left-color:;color:;padding-bottom:0px;padding-top:0px;padding-left:0px;margin:0px;border-right-color:;padding-right:0px;border-top-width:0px;font-stretch:inherit;border-image:initial;" href="https://www.reuters.com/finance/stocks/overview?symbol=DAIGn.DE">DAIGn.DE</a>) over the Swedish engineering group’s alleged participation in a ball bearings cartel, drawing a line under its disputes with automakers over this issue. <img alt="" src="http://www.bearing.com.cn/membcentre/editor/attached/image/20190118/20190118175857_68504.png" /> <p style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:freight-book, serif;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;text-transform:none;font-weight:400;color:#313132;padding-bottom:0px;font-style:normal;padding-top:0px;padding-left:0px;border-left:0px;orphans:2;widows:2;margin:0px 0px 30px 86px;letter-spacing:normal;line-height:1.52;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-font-smoothing:antialiased;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left">   <p style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:freight-book, serif;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;text-transform:none;font-weight:400;color:#313132;padding-bottom:0px;font-style:normal;padding-top:0px;padding-left:0px;border-left:0px;orphans:2;widows:2;margin:0px 0px 30px 86px;letter-spacing:normal;line-height:1.52;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-font-smoothing:antialiased;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left"> The world’s largest maker of industrial bearings was sued by three carmakers after European Union antitrust regulators in March 2014 fined it and other suppliers a total of 953 million euros ($1.1 billion) for taking part in a ball bearings cartel. <div class="DPSlot_container StandardArticleBody_dp-slot-inline StandardArticleBody_inline-canvas" style="box-sizing:border-box;font-size:12px;border-top:0px;font-family:inherit;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;position:relative;text-transform:none;font-weight:400;color:#000000;padding-bottom:0px;font-style:normal;text-align:center;padding-top:0px;padding-left:0px;clear:both;border-left:0px;orphans:2;widows:2;margin:45px 0px 45px 86px;letter-spacing:normal;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left"> <div id="dpslot_canvas_511755_USKCN1NZ255" class="DPSlot_ad-container" style="box-sizing:border-box;font-size:12px;border-top:0px;font-family:inherit;border-right:0px;width:669px;vertical-align:baseline;border-bottom:0px;position:relative;padding-bottom:0px;padding-top:0px;padding-left:0px;border-left:0px;margin:0px;z-index:0;display:inline-block;padding-right:0px;font-stretch:inherit;"> </div> </div> <p style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:freight-book, serif;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;text-transform:none;font-weight:400;color:#313132;padding-bottom:0px;font-style:normal;padding-top:0px;padding-left:0px;border-left:0px;orphans:2;widows:2;margin:0px 0px 30px 86px;letter-spacing:normal;line-height:1.52;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-font-smoothing:antialiased;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left"> SKF said it had reached a confidential settlement with Daimler, having already resolved disputes with BMW (<span id="”symbol_BMWG.DE_2”" style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:inherit;border-right:0px;vertical-align:baseline;border-bottom:0px;padding-bottom:0px;padding-top:0px;padding-left:0px;border-left:0px;margin:0px;padding-right:0px;font-stretch:inherit;"><a style="border-left-width:0px;box-sizing:border-box;font-size:21px;word-wrap:break-word;text-decoration:none;font-family:inherit;border-right-width:0px;border-top-color:;vertical-align:baseline;border-bottom:#128fdd 1px dotted;border-left-color:;color:;padding-bottom:0px;padding-top:0px;padding-left:0px;margin:0px;border-right-color:;padding-right:0px;border-top-width:0px;font-stretch:inherit;border-image:initial;" href="https://www.reuters.com/finance/stocks/overview?symbol=BMWG.DE">BMWG.DE</a>) and France’s PSA Group (<span id="”symbol_PEUP.PA_3”" style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:inherit;border-right:0px;vertical-align:baseline;border-bottom:0px;padding-bottom:0px;padding-top:0px;padding-left:0px;border-left:0px;margin:0px;padding-right:0px;font-stretch:inherit;"><a style="border-left-width:0px;box-sizing:border-box;font-size:21px;word-wrap:break-word;text-decoration:none;font-family:inherit;border-right-width:0px;border-top-color:;vertical-align:baseline;border-bottom:#128fdd 1px dotted;border-left-color:;color:;padding-bottom:0px;padding-top:0px;padding-left:0px;margin:0px;border-right-color:;padding-right:0px;border-top-width:0px;font-stretch:inherit;border-image:initial;" href="https://www.reuters.com/finance/stocks/overview?symbol=PEUP.PA">PEUP.PA</a>). <p style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:freight-book, serif;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;text-transform:none;font-weight:400;color:#313132;padding-bottom:0px;font-style:normal;padding-top:0px;padding-left:0px;border-left:0px;orphans:2;widows:2;margin:0px 0px 30px 86px;letter-spacing:normal;line-height:1.52;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-font-smoothing:antialiased;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left"> Daimler had asked for a payment of at least 59 million euros plus interest and reimbursement of costs, but SKF had argued that the activities sanctioned by the European Commission had not caused any damage to its business partners. <div class="DPSlot_container StandardArticleBody_dp-slot-inline" style="box-sizing:border-box;font-size:12px;border-top:0px;font-family:inherit;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;position:relative;text-transform:none;font-weight:400;color:#000000;padding-bottom:0px;font-style:normal;text-align:center;padding-top:0px;padding-left:0px;border-left:0px;orphans:2;widows:2;margin:45px 0px 45px 86px;letter-spacing:normal;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left"> <div id="dpslot_native_2422370_USKCN1NZ255" class="DPSlot_ad-container" style="box-sizing:border-box;font-size:12px;border-top:0px;font-family:inherit;border-right:0px;width:669px;vertical-align:baseline;border-bottom:0px;position:relative;padding-bottom:0px;padding-top:0px;padding-left:0px;border-left:0px;margin:0px;z-index:0;display:inline-block;padding-right:0px;font-stretch:inherit;"> </div> </div> <p style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:freight-book, serif;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;text-transform:none;font-weight:400;color:#313132;padding-bottom:0px;font-style:normal;padding-top:0px;padding-left:0px;border-left:0px;orphans:2;widows:2;margin:0px 0px 30px 86px;letter-spacing:normal;line-height:1.52;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-font-smoothing:antialiased;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left"> SKF said on Friday the settlement would have an insignificant impact on its financial position and a spokesman said the settlement wasn’t more than the 59 million euros stated in Daimler’s original request. <p style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:freight-book, serif;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;text-transform:none;font-weight:400;color:#313132;padding-bottom:0px;font-style:normal;padding-top:0px;padding-left:0px;border-left:0px;orphans:2;widows:2;margin:0px 0px 30px 86px;letter-spacing:normal;line-height:1.52;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-font-smoothing:antialiased;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left"> A Daimler spokesman confirmed a settlement had been reached but declined to give details of the settlement or make any further comment. <p style="box-sizing:border-box;font-size:21px;border-top:0px;font-family:freight-book, serif;border-right:0px;vertical-align:baseline;white-space:normal;word-spacing:0px;border-bottom:0px;text-transform:none;font-weight:400;color:#313132;padding-bottom:0px;font-style:normal;padding-top:0px;padding-left:0px;border-left:0px;orphans:2;widows:2;margin:0px 0px 30px 86px;letter-spacing:normal;line-height:1.52;padding-right:0px;background-color:#ffffff;text-indent:0px;font-variant-ligatures:normal;font-variant-caps:normal;font-variant-numeric:inherit;font-variant-east-asian:inherit;font-stretch:inherit;-webkit-font-smoothing:antialiased;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;" align="left"> “This settlement is not an admission of liability for damages but is made in order to enable SKF and Daimler to continue their longstanding commercial relationship,” SKF said.

18 Jan,2019

Previous： Putting a New Spin on Glass Doors with Plastic Bearings
Next： Understanding damage tolerance in hybrid bearings