SKF Participates in Raids against Retailers of Counterfeit Bearings
December 06 2016 - 3:02AM
Business Wire
Three simultaneous raids in China are the latest in efforts to
combat the sale of counterfeit bearings
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.
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SKFPRESS:Theo KjellbergDirector, Press Relationstel: +46
31 337 6576mobile: +46 725-776576e-mail:
theo.kjellberg@skf.comorINVESTOR RELATIONS:Patrik StenbergHead of
Investor Relations+46 31-337 2104+46 705-472
104patrik.stenberg@skf.com
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