kscarbel2 Posted November 12, 2015 Share Posted November 12, 2015 Reuters / November 10, 2015Volvo Group has won a case in the Arbitration Tribunal of the Stockholm Chamber of Commerce relating to defective bearings supplied by NTN-SNR, the European business unit of Japan’s NTN Corp. In November 2012, Volvo Powertrain AB filed a request for arbitration with the tribunal claiming that bearings supplied by NTN-SNR did not comply with Volvo's specifications and caused damages.NTN-SNR argued that the bearings complied with Volvo's specifications and did not have any problem.The deliveries were made several years ago and the problem has since been corrected in the production process, Volvo said. Volvo said the ruling will have a positive impact of approximately SEK 800 million (approximately $94.2 million) on the Volvo Group’s operating profit in the fourth quarter.Related reading:http://www.ntn.co.jp/english/news/press/news201500079.htmlhttp://www.ntn-snr.com/group/fr/en-en/index.cfm?page=/group/home/marches_et_produits/automobile/clients_marches Quote Link to comment https://www.bigmacktrucks.com/topic/42622-volvo-wins-arbitration-case-against-ntn/ Share on other sites More sharing options...
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