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AB Skf (SKFb.ST)

SKFb.ST on Stockholm Stock Exchange

170.85SEK
12:00pm EDT
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1.05kr (+0.62%)
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169.80kr
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171.95kr
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168.10kr
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2,662,278
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182.00kr
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127.35kr

Latest Key Developments (Source: Significant Developments)

SKF Acquires Cleantech Start-Up Company
Thursday, 20 Jun 2019 05:00am EDT 

June 20 (Reuters) - AB Skf ::ACQUIRES CLEANTECH START-UP COMPANY.SKF HAS ACQUIRED RECONDOIL SWEDEN AB, A SWEDISH CLEANTECH START-UP.RECONDOIL'S TURNOVER IN 2017 WAS SEK 10 MILLION.ACQUISITION WILL STRENGTHEN GROUP'S LUBRICATION MANAGEMENT BUSINESS AND ROTATING EQUIPMENT PERFORMANCE OFFER..  Full Article

SKF Shifts Some Production From Italy To Asia And Eastern Europe
Wednesday, 19 Jun 2019 02:00am EDT 

June 19 (Reuters) - AB 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 APPROXIMATELY SEK 140 MILLION IN Q2 OF 2019.APPROXIMATELY SEK 30 MILLION IS BEING INVESTED IN TECHNOLOGY AND CAPACITY UPGRADES IN EXISTING FACTORIES IN ASIA AND EASTERN EUROPE..SKF IS INVESTING APPROXIMATELY SEK 450 MILLION IN IMPROVING COMPETITIVENESS OF ITS DEEP GROOVE BALL BEARING (DGBB) OFFERING.INVESTMENT IN BARI FACTORY TOTALS APPROXIMATELY SEK 50 MILLION.AUTOMATED PRODUCTION CHANNEL IN BARI IS EXPECTED TO BE COMPLETED DURING SECOND HALF OF 2020..THIS INCLUDES SHIFTING SOME PRODUCTION FROM BARI, ITALY TO ASIA AND EASTERN EUROPE.NEW FACTORY IS EXPECTED TO BE FULLY OPERATIONAL DURING FIRST HALF OF 2020.DGBB MANUFACTURING IN CHINA IS TO BE CONSOLIDATED INTO A NEW FACTORY.AN AUTOMATED PRODUCTION CHANNEL IS ALSO BEING IMPLEMENTED IN BARI.INVESTMENT TOTALING APPROXIMATELY SEK 370 MILLION IS BEING MADE IN A NEW DGBB FACTORY IN XINCHANG, CHINA.INVESTMENT IN BARI FACTORY TOTALS APPROXIMATELY SEK 50 MILLION AND WILL LEAD TO AUTOMATION OF MANUAL OPERATIONS AND A FLEXIBLE AND MORE COMPETITIVE MANUFACTURING PROCESS.ASSOCIATED STAFF REDUCTIONS WILL RESULT IN RESTRUCTURING COSTS OF APPROXIMATELY SEK 140 MILLION.AUTOMATED PRODUCTION CHANNEL IN BARI IS EXPECTED TO BE COMPLETED DURING SECOND HALF OF 2020.  Full Article

SKF says Fiat, Bosch has initiated lawsuits related to European Commission settlement
Thursday, 25 Apr 2019 03:23am EDT 

April 25 (Reuters) - AB Skf ::SKF SAYS FIAT CHRYSLER HAS INITIATED LAWSUIT AGAINST SKF AND OTHER BEARINGS MAKERS RELATED TO EUROPEAN COMMISSION SETTLEMENT.SKF SAYS BOSCH HAS ALSO INITIATED LAWSUIT.  Full Article

SKF consolidates industrial seals manufacturing footprint in North America
Tuesday, 24 Oct 2017 10:30am EDT 

Oct 24 (Reuters) - Ab Skf :Skf consolidates industrial seals manufacturing footprint in north america.‍as part of process, skf intends to close its manufacturing site in seneca, kansas​.‍production will be transferred to other sites in north america, development and manufacturing facility in salt lake city, where investments are being made in increasing technical capabilities and capacity​.‍consolidation process supports skf's long-term ambition of integrating regional manufacturing, engineering and technology efforts​.‍transfer from seneca will take place over next 18 months and will impact approximately 170 staff​.  Full Article

SKF replaces Bearing Operations chief Graux, Viitanen to take over
Friday, 8 Sep 2017 06:00am EDT 

Sept 8 (Reuters) - SKF :SKF makes changes to group management.Says Kent Viitanen is appointed president, Bearing Operations.Says Viitanen is succeeding Luc Graux, who will take up a new role within Bearing Operations.Viitanen was previously Senior Vice President, Group People, Communication and Quality."This change ensures we have leadership in place to implement our already announced investments in world-class manufacturing and digitalisation of our supply and logistics chain," says SKF CEO Alrik Danielson .  Full Article

SKF to build new factory in Xinchang, invest in automation in Bari

STOCKHOLM, June 19 Bearings maker SKF said it plans to spend around 450 million Swedish crowns ($47 million) in its deep groove ball bearing (DGBB) manufacturing and would take 140 million in restructuring costs due to an automation investment in Italy.