SKF and Peugeot S.A., and several group companies, (PSA) have settled their dispute before the Competition Appeal Tribunal in the United Kingdom regarding damage claims resulting from SKF’s settlement with the European Commission for violation of European competition rules. PSA initiated this lawsuit against several bearing manufacturers, among them AB SKF, in February 2016.

This settlement is not an admission of liability for damages, but is made in order to enable SKF and PSA to continue their long-standing commercial relationship.

The settlement will have an insignificant impact on the financial position of the Group.