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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 Bearingcode.com,
report Dagens Industri.
Ingalill Östman, 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 Scancomark.se Team
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