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AB SKF (SKFb.ST)

SKFb.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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 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 divests linear and actuation unit in $314 million deal with Triton

STOCKHOLM Sweden's SKF , the world's biggest maker of industrial bearings, on Tuesday said it had agreed to divest its linear and actuation technology business to investment firm Triton for 2.75 billion crowns ($314 million).