SKF and Daimler Settle Legal Dispute

GOTHENBURG, Sweden, Nov 30, 2018 /PRNewswire/ -- SKF and Daimler AG (Daimler) have today entered into a settlement agreement with respect to their dispute before the regional court Nuremberg-Fuerth in Germany regarding damage claims resulting from the European Commission's decision on the violation of European competition rules with respect to automotive bearings. Daimler initiated this lawsuit against SKF GmbH in June 2017. The parties agreed to treat details of the settlement as confidential.

This settlement is not an admission of liability for damages, but is made in order to enable SKF and Daimler 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 30 November 2018 at 17:15 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

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SOURCE SKF