SKF, Daimler Settle Dispute Over Damage Claims
30 November 2018 - 6:18PM
Dow Jones News
By Adria Calatayud
SKF AB (SKF-B.SK) said Friday that it has settled a legal
dispute in which Daimler AG (DAI.XE) claimed damages resulting from
a EU decision on the violation of European competition rules.
The Swedish ball-bearing maker said the agreement will enable
both companies to continue their longstanding relationship. The
settlement will have an insignificant impact on SKF's financial
position, the company said. It didn't provide any details on the
settlement, citing confidentiality.
The agreement isn't an admission of liability for damages, SKF
said.
Daimler initiated the lawsuit against SKF in June 2017,
following a decision by the European Commission--the EU's executive
arm--in March 2014 that covered violations of EU competition rules
with respect to sales of bearings to the automotive industry, the
Nordic company said.
Daimler wasn't immediately available to comment.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
November 30, 2018 12:03 ET (17:03 GMT)
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