SKF Acquires Cleantech Start-up Company
GOTHENBURG, Sweden, June 20, 2019 /PRNewswire/ -- SKF has acquired RecondOil Sweden AB, a Swedish cleantech start-up that has developed a chemical filtration and rejuvenation process for industrial lubrication fluid and slop oil. RecondOil's turnover in 2017 was SEK 10 million and the acquisitio...
SKF Invests SEK 450 Million in Deep Groove Ball Bearing Manufacturing
Staff reductions connected to automation investments in Bari will result in restructuring costs of approximatelySEK 140 million in the second quarter of 2019 GOTEBORG, Sweden, June 19, 2019 /PRNewswire/ -- SKF is investing approximately SEK 450 million in improving the competitiveness of its deep...
Announcement of Change in the Total Number of Votes in AB SKF
GOTHENBURG, Sweden, May 29, 2019 /PRNewswire/ -- Due to a conversion of shares from Series A to Series B in accordance with AB SKF's Articles of Association, the Company confirms the following. As per 29 May the Company's share capital amounts to SEK 1,138,377,670 and the total number of shares ...
SKF Confirms Closure of Stonehouse Factory
GOTHENBURG, May 17, 2019 /PRNewswire/ -- Following a consultation process with local employee representatives, SKF confirms the proposed closure of its factory in Stonehouse, UK. The proposal was made inDecember 2018 as part of a wider consolidation of the Group's aerospace manufacturing footprin...
SKF Appoints Niclas Rosenlew New CFO
GOTHENBURG, Sweden, April 30, 2019 /PRNewswire/ -- Niclas Rosenlew has been appointed Senior Vice President and CFO of AB SKF. Niclas will start his new position on17 June 2019 and replaces Christian Johansson, who leaves SKF with immediate effect, to pursue his career outside the company. Nicla...
SKF First-quarter Report 2019
GOTEBORG, Sweden, April 25, 2019 /PRNewswire/ -- Alrik Danielson, President and CEO: "Demand in the first quarter developed in line with our expectations. Net sales reachedSEK 21.3 billion and organic sales were relatively unchanged compared to last year. Operating profit, atSEK 2.7 billion, wa...
SKF Inaugurates Factory in Changshan, China
GÖTEBORG, Sweden, April 17, 2019 /PRNewswire/ -- SKF has inaugurated its tapered roller bearing factory in Changshan,China. Following an investment of approximatelySEK 200 million, the new factory will improve the Group's competitiveness in the industrial drives and automotive segments inChina. ...
SKF to Publish First Quarter Results on 25 April
GOTHENBURG, Sweden, April 12, 2019 /PRNewswire/ -- The SKF Group's results for the first quarter will be published around 8:00 (CET) on25 April 2019. Investors, analysts and media are invited to join a conference call, which will be held in English, at 9:00 (CET). To join the conference call, pl...
Annual General Meeting of AB SKF
GOTHENBURG, Sweden, March 28, 2019 /PRNewswire/ -- The Annual General Meeting of Aktiebolaget SKF, parent company of the SKF Group, was held inGothenburg on Thursday,28 March 2019. The income statements and the balance sheets were adopted, together with the Board's proposal for distribution of d...
SKF - Notice of Annual General Meeting
GOTHENBURG, Sweden, Feb. 18, 2019 /PRNewswire/ -- Notice is hereby given that the Annual General Meeting of Aktiebolaget SKF, reg. no. 556007-3495, will be held at SKF Kristinedal, Byfogdegatan 4, Gothenburg, Sweden, at 13.00 on Thursday, 28 March 2019. The doors are open from 11.00. Refreshments...
Announcement of Change in the Total Number of Votes in AB SKF
GOTHENBURG, Sweden, Jan. 31, 2019 /PRNewswire/ -- Due to a conversion of shares from Series A to Series B in accordance with the Company's Articles of Association, AB SKF confirms the following. As per 31 January the Company's share capital amounts to SEK 1,138,377,670 and the total number of sh...
SKF Year-end Report 2018
GOTHENBURG, Jan. 29, 2019 /PRNewswire/ -- Alrik Danielson, President and CEO: "2018 was an excellent year for SKF, with record results and a significantly strengthened balance sheet. In recognition of this, the Board has decided to propose an increased dividend ofSEK 6.00 per share to the Annual...
SKF's Year-end Results to be Published on 29 January 2019
GOTHENBURG, Sweden, Jan. 21, 2019 /PRNewswire/ -- The SKF Group will publish its full year results on29 January 2019 and welcomes investors, analysts and members of the media to take part in a conference call, which will be held in English, at 14:00 (Swedish Time), 13:00 (UK Time). To join the c...
SKF Consolidates Aerospace Manufacturing in Europe; Proposes to Close Site in Stonehouse
GOTHENBURG, Sweden, Dec. 6, 2018 /PRNewswire/ -- SKF today announces a consolidation of its aerospace manufacturing footprint inEurope. Consequently, and subject to consultation with local unions, SKF proposes to close its bearing manufacturing site in Stonehouse, UK. The Group will now enter in...
SKF Completes Previously Announced Divestment of L&AT Business, Resulting in a net Gain of SEK 1.2 Billion
GOTHENBURG, Sweden, Dec. 3, 2018 /PRNewswire/ -- SKF has completed the previously announced divestment of its linear and actuation technology business to Triton. The total consideration of the divestment is SEK 2.75 billion on a cash- and debt-free basis. The closing of the divestment will have...
SKF and Daimler Settle Legal Dispute
GOTHENBURG, Sweden, Dec. 1, 2018 /PRNewswire/ -- SKF and Daimler AG (Daimler) have today entered into a settlement agreement with respect to their dispute before the regional court Nuremberg-Fuerth inGermany regarding damage claims resulting from the European Commission's decision on the violatio...
SKF Hosts Capital Markets Day; Continues Investment in Manufacturing Automation
GOTHENBURG, Sweden, Nov. 29, 2018 /PRNewswire/ -- SKF is today hosting a Capital Markets Day inSchweinfurt, Germany. Participants will be given an update on the Group's strategic, financial and operational development. Focus will also be placed on the Group's value propositions around the rotatin...
SKF Consolidates Manufacturing in China; Invests in New Facility
GOTHENBURG, Sweden, Nov. 22, 2018 /PRNewswire/ -- SKF is investing approximately SEK 200 million in improving its competitiveness and customer service levels for tapered roller bearings (TRB) inChina. The investment is being made in a new manufacturing facility in Changshan, to which the Group's e...
SKF Invests SEK 200 Million in St Cyr, France
GOTHENBURG, Sweden, Nov. 12, 2018 /PRNewswire/ -- SKF is investing SEK 200 million in upgrading and modernizing its logistics and bearing remanufacturing centres in St Cyr,France. The logistics centre investment improves customer service levels and lead-times by bringing component storage from a...
SKF Nine-month Report 2018
GOTEBORG, Sweden, Oct. 25, 2018 /PRNewswire/ -- Alrik Danielson, President and CEO: "The third quarter developed as anticipated, with continued growth in both our industrial and automotive businesses. Sales grew organically by 7%, to stand atSEK 21.3 billlion. Our operating profit was SEK 2.6 bi...
