SKF A SKF AB Series A

SKF Participates in Raids against Retailers of Counterfeit Bearings

GOTHENBURG, Sweden--(BUSINESS WIRE)--

SKF (STO:SKFB) (STO:SKFA) (Pink Sheets:SKFRY) (LSE:SKFB) has participated in three simultaneous raids against retailers of counterfeit bearings in China. The raids, which were led by Chinese police, resulted in the seizure of counterfeit bearings which may otherwise have been sold to industrial customers and end-users.

Tina Astrom, Director, Group Brand Protection, says: “Counterfeit products are often associated with luxury and consumer brands, but they are also a problem for industrial customers in almost all regions. Although the sale of counterfeit bearings is a problem in China, Chinese law enforcement is very proactive and supported by a legal framework that enables taking action against counterfeiters.”

“Amongst the seized goods, there was a counterfeit large-size cylindrical roller bearing. The bearing had severe visible damage, suggesting that it had not been able to meet the performance needs of the machine in which it was installed. The damage was so severe, the failure of the counterfeit bearing would most likely have created substantial damage to its surrounding machinery, resulting in unplanned production downtime and financial implications for the end-user.”

Every year, SKF’s brand protection team participates in more than 100 raids against retailers, distributors and manufacturers of counterfeit products, half of which take place in China.

Aktiebolaget SKF (publ)

SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2015 were SEK 75 997 million and the number of employees was 46 635. www.skf.com

® SKF is a registered trademark of the SKF Group.

This information was brought to you by Cision http://news.cision.com

EN
06/12/2016

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