July 4, 2017 / 7:03 AM / 3 months ago

SKF sued by Daimler in wake of EU competition settlement

STOCKHOLM, July 4 (Reuters) - Sweden’s SKF said on Tuesday it was being sued by German automaker Daimler AG in the wake of a 2014 EU settlement for violations of competition rules in the European bearings industry.

“Daimler requests payment from SKF in the amount of at least EUR 59 million plus interest and reimbursement of costs,” SKF said in a statement.

“SKF strongly believes that the activities sanctioned by the European Commission have not caused any damage to its business partners.”

Reporting by Niklas Pollard and Johan Ahlander

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