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Daimler Sues SKF to Recover Price-Fixing Costs
Daimler AG is suing Swedish ball bearing supplier SKF Group to recover €59 million in overpayments, the supplier says.
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Daimler AG is suing Swedish ball bearing supplier SKF Group to recover €59 million in overpayments, the supplier says.
The lawsuit stems from a European Commission ruling in 2014 that SKF and five other bearing manufacturers conspired to manipulate prices for products they supplied to multiple carmakers between 2004 and 2011. The EC levied fines totaling €953 million ($1.1 billion) against five of the suppliers, including €315 million against SKF.
The company said last November it was being sued by BMW AG for compensation resulting from the EC decision. SKF insists the actions for which it was sanctioned “have not caused any damage to its business partners.”
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