Schaeffler Takes Action Against Product Piracy in the US

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Counterfeit rolling bearings valued at 500,000 USD seized

Schaeffler Takes Action Against Product Piracy in the US
Schaeffler Takes Action Against Product Piracy in the US

Together with other bearing manufacturers and in close cooperation with US authorities, Schaeffler Group has achieved a significant win in the fight against worldwide product piracy in rolling bearings. On July 16 and 29, 2014, counterfeit rolling bearings valued at over 500,000 USD were seized at supplier Tex Star Bearings in Houston, Texas in the USA. The raids were conducted by Immigration and Customs Enforcement / Homeland Security Investigations. Specialists found the bulk of products in stock at the supplier to be counterfeit and removed them. The monetary share of counterfeit products featuring the Schaeffler brand FAG amounted to 185,000 USD. Investigations in this case are ongoing, however the risk of damage to property and personal injury, which is always present when using counterfeit products, was limited just in time by the seizure of the products. For Tex Star Bearings, the cleared stock shelves alone translate into losses in the six-digit range. In addition, the supplier faces substantial compensation claims for damage and penalties.

Posted on September 8, 2014 - (69 views)
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