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AB SKF (SKFa.ST)

SKFa.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

SKF says co and PSA settle legal dispute
Friday, 27 Apr 2018 

April 27 (Reuters) - Skf ::Skf AND PSA SETTLE LEGAL DISPUTE.SKF AND PEUGEOT S.A., AND SEVERAL GROUP COMPANIES, (PSA) HAVE SETTLED THEIR DISPUTE BEFORE COMPETITION APPEAL TRIBUNAL IN UNITED KINGDOM.SETTLEMENT WILL HAVE AN INSIGNIFICANT IMPACT ON FINANCIAL POSITION OF GROUP.SETTLED DISPUTE REGARDING DAMAGE CLAIMS RESULTING FROM SKF'S SETTLEMENT WITH EUROPEAN COMMISSION FOR VIOLATION OF EUROPEAN COMPETITION RULES.  Full Article

SKF proposes Hans Straberg as new board chairman
Wednesday, 17 Jan 2018 

Jan 17 (Reuters) - SKF AB ::HANS STRÅBERG PROPOSED AS NEW CHAIRMAN OF THE BOARD OF AB SKF. .COLLEEN REPPLIER PROPOSED AS NEW BOARD MEMBER.SKF’S CURRENT CHAIRMAN OF THE BOARD LEIF OSTLING HAS ANNOUNCED THAT HE WILL NOT MAKE HIMSELF AVAILABLE FOR RE-ELECTION AT THE ANNUAL GENERAL MEETING 2018.  Full Article

SKF consolidates industrial seals manufacturing footprint in North America
Tuesday, 24 Oct 2017 

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 says BMW initiates lawsuit
Friday, 4 Nov 2016 

Ab Skf : SKF informed of initiation of lawsuit pertaining to settlement with the European Commission . SKF says has been informed of initiation of a lawsuit, with a claim for damages, by BMW and several group companies against bearing manufacturers, including SKF . SKF says amount of damages, if any, should SKF be found liable, is at this stage not possible to determine . Simliar lawsuit filed by Peugeot in March [nFWN16H04E] Further company coverage: [SKFb.ST] (Reporting By Johan Ahlander) ((johan.ahlander@thomsonreuters.com;)).  Full Article

SKF Q2 core profit lags forecast, sees signs of stabler market
Thursday, 21 Jul 2016 

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 

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 

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

Sweden's SKF feels power of China's electric car drive

GOTHENBURG, May 22 Sweden's SKF is seeing increasing demand for its bearings from China, where demand for electric cars means it is winning at least one new contract a month, as suppliers adapt to changing automobile technology.