The European Commission recently raided SKF AB, Schaeffler Group, and the offices of other European rolling bearings makers to investigate whether they violated European antitrust rules.
The companies manufacture bearings for the automotive and aerospace industries.
The Commission is investigating whether the companies violated European Union (“EU”) laws prohibiting cartels and restrictive business practices by allegedly entering into agreements which fixed the prices for ball-bearings. The Commission noted that the inspections are part of a preliminary investigation and do not mean that the companies have committed any anticompetitive behavior.
SKF, the world’s largest rolling bearings manufacturer, said its offices in Gothenburg, Sweden and Schweinfurt, Germany were visited by EU Officials.
SKF and Schaeffler are both cooperating with the investigation.