SKF and Daimler settle legal dispute

Release Time：03 Dec,2018

<p class="c1" style="background:#FFFFFF;margin:9px 0px 1em;padding:0px;outline:0px;border:0px currentColor;border-image:none;color:#5E5E5E;text-transform:none;line-height:1.5em;text-indent:0px;letter-spacing:normal;font-family:Arial, Helvetica, sans-serif;font-size:15px;font-style:normal;font-weight:400;word-spacing:0px;vertical-align:baseline;white-space:normal;orphans:2;widows:2;font-variant-ligatures:normal;font-variant-caps:normal;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;"> <span style="font-family:Arial;font-size:12px;"><span style="color:#000000;font-family:Arial;font-size:12px;">SKF and Daimler AG (Daimler</span><strong style="background:none;margin:0px;padding:0px;outline:0px;border:0px currentColor;border-image:none;font-size:15px;font-weight:bold;vertical-align:baseline;"><span style="color:#000000;font-family:Arial;font-size:12px;">)</span></strong><span style="color:#000000;font-family:Arial;font-size:12px;">&nbsp;</span><span style="color:#000000;font-family:Arial;font-size:12px;">have today</span><span style="color:#000000;font-family:Arial;font-size:12px;">&nbsp;</span><strong style="background:none;margin:0px;padding:0px;outline:0px;border:0px currentColor;border-image:none;font-size:15px;font-weight:bold;vertical-align:baseline;"><span style="color:#000000;font-family:Arial;font-size:12px;">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.</span></strong> <p class="c1" style="background:#FFFFFF;margin:9px 0px 1em;padding:0px;outline:0px;border:0px currentColor;border-image:none;color:#5E5E5E;text-transform:none;line-height:1.5em;text-indent:0px;letter-spacing:normal;font-family:Arial, Helvetica, sans-serif;font-size:15px;font-style:normal;font-weight:400;word-spacing:0px;vertical-align:baseline;white-space:normal;orphans:2;widows:2;font-variant-ligatures:normal;font-variant-caps:normal;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;"> <strong><img alt="" src="http://www.bearing.com.cn/membcentre/editor/attached/image/20181203/20181203082905_59152.png" /></strong> </p> <p class="c1" style="background:#FFFFFF;margin:9px 0px 1em;padding:0px;outline:0px;border:0px currentColor;border-image:none;color:#5E5E5E;text-transform:none;line-height:1.5em;text-indent:0px;letter-spacing:normal;font-family:Arial, Helvetica, sans-serif;font-size:15px;font-style:normal;font-weight:400;word-spacing:0px;vertical-align:baseline;white-space:normal;orphans:2;widows:2;font-variant-ligatures:normal;font-variant-caps:normal;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;"> <strong style="background:none;margin:0px;padding:0px;outline:0px;border:0px currentColor;border-image:none;font-size:15px;font-weight:bold;vertical-align:baseline;"><span style="color:#000000;font-family:Arial;font-size:12px;">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.</span></strong> </p> <p class="c1" style="background:#FFFFFF;margin:9px 0px 1em;padding:0px;outline:0px;border:0px currentColor;border-image:none;color:#5E5E5E;text-transform:none;line-height:1.5em;text-indent:0px;letter-spacing:normal;font-family:Arial, Helvetica, sans-serif;font-size:15px;font-style:normal;font-weight:400;word-spacing:0px;vertical-align:baseline;white-space:normal;orphans:2;widows:2;font-variant-ligatures:normal;font-variant-caps:normal;-webkit-text-stroke-width:0px;text-decoration-style:initial;text-decoration-color:initial;"> <strong style="background:none;margin:0px;padding:0px;outline:0px;border:0px currentColor;border-image:none;font-size:15px;font-weight:bold;vertical-align:baseline;"><span style="color:#000000;font-family:Arial;font-size:12px;">The settlement will have an insignificant impact on the financial position of the Group.</span></strong> </p> <span style="color:#000000;font-family:Arial;font-size:12px;">&nbsp;</span><span style="color:#000000;font-family:Arial;font-size:12px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span></span> </p>