AB Skf (SKFb.ST)
19 Jul 2019
STOCKHOLM Swedish bearings maker SKF forecast stable demand for its main industrial business in the third quarter and cited unexpected signs of improvement in the battered Chinese car market, spurring a 4% rise in shares.
* Saw improving China automotive business at end of Q2 (Adds background, detail, context, shares, CEO comments)
STOCKHOLM, July 17 Sweden's SKF, the world's biggest maker of industrial bearings, on Wednesday forecast slightly lower year-on-year demand in the third quarter after restructuring costs pushed its second-quarter operating earnings just below market forecasts.
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.
STOCKHOLM, May 31 Sweden's SKF said it would pass on the impact from U.S. tariffs on its industrial seals and bearings produced in Mexico to customers after U.S. President Donald Trump threatened to slap tariffs on imports from its southern neighbour.
* IT experience in focus as SKF digitises, automates operations
STOCKHOLM, April 30 Sweden's SKF named Niclas Rosenlew as chief financial officer on Tuesday, as the industrial ball bearings maker announced that its current finance head Christian Johansson was leaving immediately to pursue an external opportunity.
STOCKHOLM, April 25 Sweden's SKF reported forecast-beating first quarter operating earnings boosted by strong results in its main industrial business, showing its ability to handle slowing demand ahead.
STOCKHOLM, April 25 Sweden's SKF, the world's largest maker of industrial bearings, reported quarterly operating earnings ahead of market expectations on Thursday but forecast slightly lower demand in the second quarter versus the year-ago period.
* Sees slightly higher demand for industrials business (Adds CEO comment, background, detail, updates shares)