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AB SKF (SKFRY.PK)

SKFRY.PK on OTC Markets Group

19.70USD
22 Aug 2017
Change (% chg)

$0.32 (+1.65%)
Prev Close
$19.38
Open
$19.57
Day's High
$19.74
Day's Low
$19.57
Volume
118,859
Avg. Vol
19,007
52-wk High
$22.30
52-wk Low
$16.08

Latest Key Developments (Source: Significant Developments)

SKF sells Reelcraft for $115 mln
Friday, 16 Jun 2017 04:30am EDT 

June 16 (Reuters) - SKF :SKF divests Reelcraft.Says total consideration of divestment is USD 115 million on a cash-free and debt-free basis and divestment is expected to close during Q3 2017..Says Reelcraft's sales in 2016 amounted to approximately USD 55 million..Says agreement to divest Reelcraft, a manufacturer of hose, cord and cable reels for industrial applications, to Madison Industries, is subject to regulatory approvals.  Full Article

SKF CEO says will not give any new guidance during Capital Markets Day
Thursday, 6 Apr 2017 12:53am EDT 

SKF CEO Alrik Danielson in presentation at Group's Capital Markets Day : Says will not give any new guidance during Capital Markets Day Further company coverage: [SKFb.ST] (Stockholm Newsroom) ((stockholm.newsroom@thomsonreuters.com; +46 (0)8-700 10 10;)).  Full Article

SKF reorganizes, Le Mounier steps down as head of Automotive
Monday, 13 Mar 2017 04:00am EDT 

SKF : Skf consolidates organisational structure and group management . Says group technology function will be combined with business and product development function . Says Bernd Stephan, previously senior vice president, group technology, has been appointed president, automotive and aerospace . Says Stéphane Le Mounier, previously president, automotive and aerospace, will take up a new role as advisor to Alrik Danielson, president and CEO .Says Stéphane will no longer be part of skf's group management..  Full Article

Outgoing Atlas Copco CEO Leten proposed to join the SKF board
Friday, 24 Feb 2017 07:05am EST 

SKF : Says proposes that Ronnie Leten and Barb Samardzich are to be newly elected to Board of Directors . Leten has been CEO of Atlas Copco since 2009, where he will step down later this year. He is also Chairman of the Board of Directors of AB Electrolux . Samardzich has experience from several management positions within Ford Motor Company 1990-2016. She is also a Board member of Adient plc, Velodyne LidDAR and MTS Systems .Says Lena Treschow Torell and Joe Loughrey have declined re-election.  Full Article

SKF Q3 profit in line, sees flat demand ahead
Wednesday, 26 Oct 2016 07:04am EDT 

SKF : Says entering Q4 of 2016, demand for our products and services is expected to be relatively unchanged both compared to same period last year and sequentially . Q3 operating profit ex items SEK 1,811 million versus mean forecast 1,794 million in Reuters poll of analysts . Q3 organic sales -0.6 percent year/year versus mean forecast -1.9 percent in Reuters poll . Says although rate of decline in demand in North america and Asia has diminished, market conditions continued to be challenging during Q3 .Says demand is expected to be slightly higher in Europe, lower in North America and relatively unchanged in Asia and in Latin America.  Full Article

SKF Q2 core profit lags forecast, sees signs of stabler market
Thursday, 21 Jul 2016 02:08am EDT 

SKF : Q2 organic sales -4.4 pct year/year versus mean forecast -3.1 percent in Reuters poll . Q2 operating profit ex items SEK 2,020 million versus mean forecast 2,163 million in Reuters poll . Says "as we look ahead, we see signs of the market stabilizing" . Entering the third quarter of 2016, demand for SKF's products and services is expected to be relatively unchanged compared to the same period last year . Q3 demand outlook versus Q2: demand for SKF's products and services is expected to be lower for group .Says demand is expected to be relatively unchanged in Latin America, slightly lower in Asia and North America and lower in Europe..  Full Article

SKF says completes divestments
Friday, 1 Jul 2016 01:30am EDT 

SKF AB : SKF completes previously announced divestments . Says total consideration of the fly-by-wire divestment is EUR 39 million . Says total consideration of the Kaydon velocity control divestment is USD 339 million .Says net income effect is estimated at around SEK -350 million, which refer primarily to tax costs, and will be booked in Q2.  Full Article

SKF says completes divestments
Thursday, 30 Jun 2016 02:10pm EDT 

SKF AB : SKF completes previously announced divestments . Says total consideration of the fly-by-wire divestment is EUR 39 million . Says total consideration of the Kaydon velocity control divestment is USD 339 million .Says net income effect is estimated at around SEK -350 million, which refer primarily to tax costs, and will be booked in Q2.  Full Article

SKF says to consolidate North America manufacturing plants
Thursday, 9 Jun 2016 10:00am EDT 

SKF : SKF consolidates manufacturing facilities in North America . Says restructuring costs are expected to amount to around SEK 300 million . Says around SEK 100 million will be accounted for during Q2 2016 and remainder as they occur . Says consolidation is expected to generate full year cost savings of around SEK 220 million from 2019, whereof around SEK 70 million is expected to be achieved in 2018 . Says production will be transferred from group's site in Hanover, Pennsylvania, to Flowery Branch, Georgia, consolidating production of spherical roller bearings and large size roller bearings . Says production of rings and seals for aerospace industry will be relocated to Hanover from SKF's existing factory in Baltimore . Says investments totalling SEK 150 million will be made in upgrading machinery and manufacturing processes in Hanover and Flowery Branch . Says manufacturing and development of condition monitoring solutions will be moved from SKF's existing site in San Diego, California, to other sites in Europe . Says Y-Bearing and Units production channels in Puebla, Mexico, which serve North American customers within the agriculture segment, will be closed, with production transferred to other sites.  Full Article

AB SKF says receives SEK 100 mln contract in Russia
Monday, 2 May 2016 02:30am EDT 

AB SKF:Says secures 100 million Swedish crown contract extension with Russian rail freight company.  Full Article

BRIEF-Changzhou NRB signs framework agreement with Swedish firm SKF

* Says it signs strategic framework agreement with Sweden's bearing and seal manufacturing firm SKF, share trade to resume on July 25