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AB SKF (SKFb.ST)

SKFb.ST on Stockholm Stock Exchange

129.80SEK
7 Dec 2018
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Latest Key Developments (Source: Significant Developments)

SKF completes L&AT sale, announces impairments and settlement costs
Monday, 3 Dec 2018 

Dec 3 (Reuters) - AB SKF ::COMPLETES PREVIOUSLY ANNOUNCED DIVESTMENT OF L&AT BUSINESS, RESULTING IN A NET GAIN OF SEK 1.2 BILLION.SAYS CLOSING OF DIVESTMENT WILL HAVE A POSITIVE EFFECT ON OPERATING RESULT FOR Q4 2018 OF SEK 1.2 BILLION.SAYS UNRELATED TO DIVESTMENT, IMPAIRMENTS OF ASSETS AND COSTS ASSOCIATED WITH CUSTOMER SETTLEMENTS WILL HAVE A NEGATIVE EFFECT ON OPERATING RESULT FOR Q4 2018 OF APPROXIMATELY SEK 300 MILLION.  Full Article

SKF and Daimler settle legal dispute
Friday, 30 Nov 2018 

Nov 30 (Reuters) - Daimler AG ::SKF AND DAIMLER SETTLE LEGAL DISPUTE.SKF - DISPUTE REGARDING DAMAGE CLAIMS RESULTING FROM EUROPEAN COMMISSION'S DECISION ON VIOLATION OF EUROPEAN COMPETITION RULES WITH RESPECT TO AUTOMOTIVE BEARINGS.SKF - DAIMLER INITIATED THIS LAWSUIT AGAINST SKF GMBH IN JUNE 2017.SKF - PARTIES AGREED TO TREAT DETAILS OF SETTLEMENT AS CONFIDENTIAL.SKF - SETTLEMENT IS NOT AN ADMISSION OF LIABILITY FOR DAMAGES, BUT IS MADE IN ORDER TO ENABLE SKF, DAIMLER TO CONTINUE COMMERCIAL RELATIONSHIP.SKF - SETTLEMENT WILL HAVE AN INSIGNIFICANT IMPACT ON FINANCIAL POSITION OF GROUP.  Full Article

SKF consolidates manufacturing in China, invests 200 mln SEK in new facility
Thursday, 22 Nov 2018 

Nov 22 (Reuters) - AB SKF ::CONSOLIDATES MANUFACTURING IN CHINA; INVESTS IN NEW FACILITY.SAYS INVESTING APPROXIMATELY SEK 200 MILLION IN IMPROVING ITS COMPETITIVENESS AND CUSTOMER SERVICE LEVELS FOR TAPERED ROLLER BEARINGS (TRB) IN CHINA.SAYS INVESTMENT IS BEING MADE IN A NEW MANUFACTURING FACILITY IN CHANGSHAN, TO WHICH GROUP'S EXISTING SMALL-SIZE TRB MANUFACTURING IN CHINA WILL BE TRANSFERRED.SAYS AS A RESULT, THREE EXISTING SITES IN NINGBO, SHANGHAI AND CHANGSHAN WILL BE CLOSED.SAYS NEW MANUFACTURING FACILITY IN CHANGSHAN IS EXPECTED TO BE FULLY OPERATIONAL DURING Q1 2019.  Full Article

SKF divests linear and actuation technology business
Tuesday, 31 Jul 2018 

July 31 (Reuters) - AB SKF ::SKF DIVESTS LINEAR AND ACTUATION TECHNOLOGY BUSINESS.SAYS TOTAL CONSIDERATION OF DEAL IS SEK 2.75 BILLION, ON A CASH- AND DEBT FREE BASIS AND IT IS EXPECTED TO CLOSE DURING END OF 2018.SAYS SIGNED AN AGREEMENT TO DIVEST ITS LINEAR AND ACTUATION TECHNOLOGY BUSINESS TO TRITON.  Full Article

Hexatronic And SKF Sign Development Partnership
Wednesday, 20 Jun 2018 

June 20 (Reuters) - HEXATRONIC GROUP AB ::REG-SKF AND HEXATRONIC SIGN DEVELOPMENT PARTNERSHIP FOR INDUSTRIALIZATION OF FIBER OPTIC SENSING SYSTEMS.SKF AND HEXATRONIC SIGN DEVELOPMENT PARTNERSHIP FOR INDUSTRIALIZATION OF FIBER OPTIC SENSING SYSTEMS.  Full Article

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

Sweden's SKF to invest $17 million in automation

STOCKHOLM Sweden's SKF, the world's largest maker of industrial bearings, is investing 150 million Swedish crowns ($17 million) to increase competitiveness by automating some manufacturing, it said on Thursday.