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United Kingdom

AB SKF (SKFb.ST)

SKFb.ST on Stockholm Stock Exchange

189.25SEK
18 May 2018
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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

SKF says to consolidate North America manufacturing plants
Thursday, 9 Jun 2016 

SKF : SKF consolidates manufacturing facilities in North America . Says restructuring costs are expected to amount to around SEK 300 million . Says around SEK 100 million will be accounted for during Q2 2016 and remainder as they occur . Says consolidation is expected to generate full year cost savings of around SEK 220 million from 2019, whereof around SEK 70 million is expected to be achieved in 2018 . Says production will be transferred from group's site in Hanover, Pennsylvania, to Flowery Branch, Georgia, consolidating production of spherical roller bearings and large size roller bearings . Says production of rings and seals for aerospace industry will be relocated to Hanover from SKF's existing factory in Baltimore . Says investments totalling SEK 150 million will be made in upgrading machinery and manufacturing processes in Hanover and Flowery Branch . Says manufacturing and development of condition monitoring solutions will be moved from SKF's existing site in San Diego, California, to other sites in Europe . Says Y-Bearing and Units production channels in Puebla, Mexico, which serve North American customers within the agriculture segment, will be closed, with production transferred to other sites.  Full Article

BRIEF-SKF says co 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