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| Name | Symbol | Market | Type |
|---|---|---|---|
| SKF Ab (PK) | USOTC:SKFRY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.11 | 0.55% | 20.13 | 19.71 | 20.49 | 20.14 | 20.08 | 20.13 | 7,104 | 21:01:20 |
From Jun 2019 to Jun 2024
STOCKHOLM--Swedish ballbearing maker SKF AB (SKF-B.SK) said Friday it will take a provision of 3 billion Swedish kronor ($456 million) in its fourth-quarter results as it believes the European Commission may impose a fine on the company for infringements of competition law.
The previously announced investigation by the Commission regards certain bearing manufacturers' supply of bearings to the automotive manufacturing industry in Europe.
"I deeply regret that this has happened. Even if we believe it has not caused any damage to our business partners, this should not have happened and is not at all in line with the values we have" at SKF, said Tom Johnstone, president and chief executive.
SKF expects an additional one-time cost in the fourth quarter of around SEK100 million, around half of which is related to the company's ongoing restructuring program.
SKF shares closed at SEK178.30 Thursday.
Write to Christina Zander at christina.zander@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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