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2016-11-04

SKF: SKF informed of initiation of lawsuit pertaining to settlement with the European Commission

Gothenburg, 4 November 2016: SKF has been informed of the initiation
of a lawsuit, with a claim for damages, by BMW AG and several group
companies (BMW) against bearing manufacturers, including AB SKF, that
were part of the settlement decision by the European Commission for
violation of European competition rules.

BMW has filed the lawsuit with the High Court of Justice in London,
United Kingdom. SKF has not, at this stage, received definitive
information about the size of damages claimed.

The amount of damages, if any, should SKF be found liable, is at this
stage not possible to determine.

The decision by the European Commission in March 2014 covered
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.

The settlement decision made no finding that SKF's top management had
involvement in, or knowledge of, the conduct at issue. Furthermore,
SKF strongly believes that the activities sanctioned by the European
Commission have not caused any damage to its business partners.

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 4 November 2016 at 11.45 CET.

For further information, please contact:
PRESS: Theo Kjellberg, Director, Press Relations
tel: +46 31 337 6576, mobile: +46 725-776576, e-mail:
theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
Patrik Stenberg, +46 31-337 2104; +46 705-472 104;
patrik.stenberg@skf.com

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 2015
were SEK 75 997 million and the number of employees was 46 635.
www.skf.com

® SKF is a registered trademark of the SKF Group.

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http://news.cision.com/skf/r/skf-informed-of-initiation-of-lawsuit-perta...
http://mb.cision.com/Main/637/2116148/585275.pdf

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