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Date: 2013-08-01

SKF Code Of Conduct for Director/Senior Management

SKF India Limited (SKF) is the leading supplier of products, customer solutions and services in the bearing business. We provide our customers with solutions designed to improve their competitiveness.

SKF's main task is to develop, produce and market products, solutions and services that satisfy the needs of our customers and are safe for their intended use. This shall be done with the overall objective to attain long-term and sustained profitability. Our products should be efficient in their use of energy, protective of the environment, and be recyclable or safely disposable.

For SKF to be consistently successful, it is vital that the organization, and every member of the Board in the performance of his/her duties, is seen and perceived as economically, socially and ethically responsible.

This is the only way to ensure lasting, positive and acceptable, financial and social development.


SKF has defined four key areas of responsibility:

Responsibility towards customers

To gain and maintain customers by continuous development and research and to be able to provide products, services and solutions that meet customer's expectations regarding quality, safety and environmental care.


Responsibility towards employees

To respect the employees and their rights, to offer safe and good working conditions, to offer non-discriminatory conditions and continuously develop skills and competencies to ensure the individual's satisfaction and career possibilities.


Responsibility towards shareholders

To protect the shareholder's investments and strive for a sustainable and improving return.


Responsibility towards society

To manage the business as a responsible member of our society acting according to the laws of the country to express our support and show respect to the protection of internationally proclaimed human rights. We must make sure that we are not complicit in human rights abuses, and always consider health, safety and environmental issues in order to contribute to a sustainable development.


To fully perform these responsibilities we apply throughout the organization our core values - High Ethics, Empowerment, Openness and Team Work - and the ethical principles described in this Code of Conduct. It is also SKF's aim to actively involve all its stakeholders whenever possible.

Responsibility towards customers

Business ethics

SKF demands honesty and integrity in all parts of its activities and expects the same from all parties with whom the Company has any business relation - customers, suppliers, partners, agents.

SKF advocates free and fair trade, striving for competition and ethical conditions within the rules of the legal framework.

SKF also supports transparency and openness, provided business secrets, the divulgence of which could harm the company's competitiveness and/or relationships with customers or partners, are not exposed.

SKF's business ethics also dictate that:

Bribes are forbidden and, consequently, that all forms of compensation to agents, suppliers and partners shall refer only to justified products or services.

Gifts and other favours as elements of expected hospitality must not exceed local customs and be in line with local laws.

All Directors must avoid any conflict of interest between private economic issues and the company's business; any case of uncertainty should be brought to the notice of the Board for judgment.

All business transactions made on behalf of the company must clearly appear in the company's accounting, conducted according to the Company


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