SKF and BMW Settle Legal Dispute

GOTHENBURG, Sweden, August 03, 2017 /PRNewswire/ --

SKF and BMW have settled their dispute pending before the High Court of Justice in London, United Kingdom, regarding damage claims resulting from SKF's settlement with the European Commission for violation of European competition rules. BMW initiated this lawsuit against several bearing manufacturers, among them AB SKF, in November 2016.

This settlement is not an admission of liability for damages, but is made in order to enable SKF and BMW to continue their long-standing commercial relationship.

The settlement will have an insignificant impact on the financial position of the Group.

Aktiebolaget SKF
      (publ)

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 3 August 2017 kl. 07:30 CET.

For further information, please contact:

Press
Theo Kjellberg
Director, Press Relations
Tel: 46-31-337-6576,
Mobile: 46-725-776576,
E-mail: [email protected]

Investor Relations
Patrik Stenberg,
Head of Investor Relations
Tel: 46-31-337-2104
Mobile: 46-705-472-104
E-mail: [email protected]

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SOURCE SKF