Advertisement Opportunities | About Us | Contact Us | Tell us what you think | Jobs | Shopping | Scandinavian Dating | Archive

Scandinavian Companies and Market


Companies News

The Market Quotes Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

SKF sued in the USA for cartel formation - reports

Monday, 23 July 2012
Swedish industrial giant and bearings manufacturer SKF and five others companies have been sued by the U.S. component supplier, Spindle Parts, acting on behalf of their clients in a class action.

Both SKF's parent company in Sweden and its branch in the U.S., are reported to be mentioned in the lawsuit.

Spindle part claims that the ball bearing manufacturers have agreed to sell ball bearings at a certain price and that it should have been going on ever since 2004.
Spindle Parts made in their lawsuit to a district court in Michigan last Friday and it has the character of a so-called class action, "class action", and report Swedish business daily, Dagens Industri.

The paper say that Spindle part claim that the company illegally formed a cartel has led Swindle Part's customers have to pay a higher price for the products the company delivered, than if the competition had been open.

The lawsuit is reported to be directed against six members of the now-defunct organization, World Bearing Association, WBA, which SKF is part of it.

in the lawsuit Spindle Parts highlights that SKF and the other airlines are subject to review by the European Commission and the U.S. department of justice.
Spindle Parts indicates no aggregates, but wants compensation and damages for what they should have paid for ball bearings sold in the United States from 2004 until the today.

In June, there was also SKF involved in a price fixing saga, although it was a class action concerning pricing resulting from unlawful agreements. The complainant was made up of 25 U.S. car dealers according to reports from the Australian watcher, report Dagens Industri.

Ingalill Ístman, Communications Director of Group Affairs at SKF says to Dagens Industri that the company will wait for the U.S. competition authority ruling before the'll know how to go on the defense against the lawsuits.
by Team

What do you think about this article or us? Please leave a comment. Thank you!

  • Should be Empty:

Print Friendly and PDF