SKF A SKF AB Series A

SKF Invests SEK 150 million in Schweinfurt Production Channels

GÖTEBORG, Sweden--(BUSINESS WIRE)--

SKF (STO:SKFB) (STO:SKFA) (Pink Sheets:SKFRY) (LSE:SKFB) is investing SEK 150 million in modernizing its cylindrical roller bearing (CRB) manufacturing in Schweinfurt, Germany. This is the third significant manufacturing investment announced by SKF in the last 18 months, following the announcement of similar investments in Gothenburg, Sweden and Flowery Branch, USA.

The investment in Schweinfurt will involve the implementation of the latest technologies within machining, assembly and packaging and will result in older production channels being replaced by largely automated, world-class technologies.

Luc Graux, President, Bearing Operations, says: “We are very excited to be ramping up our investments in developing world-class manufacturing within SKF. The automated assembly and zero reset-time of the channel will greatly improve our flexibility and lead-times for medium- and small-size lots of standard CRB products. Our ambition is to launch pilot projects such as these across all of our main product lines, before replicating them across other manufacturing sites.”

“Together with our projects in Gothenburg and Flowery Branch, we have now announced almost SEK 500 million of investments in upgrading and digitalising our factories during the last 18 months. Ensuring we develop flexible and modern manufacturing processes is essential in supporting SKF’s growth and profitability ambitions.”

The investments announced today are expected to be completed by the middle of 2018.

Aktiebolaget SKF (publ)

SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2015 were SEK 75 997 million and the number of employees was 46 635. www.skf.com

® SKF is a registered trademark of the SKF Group.

This information was brought to you by Cision http://news.cision.com

EN
03/11/2016

Underlying

SKF ASKF AB Series A

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on SKF AB Series A

 PRESS RELEASE
Free
SKF A SKF AB SERIES A

SKF Participates in Raids against Retailers of Counterfeit Bearings

GOTHENBURG, Sweden--(BUSINESS WIRE)-- SKF (STO:SKFB) (STO:SKFA) (Pink Sheets:SKFRY) (LSE:SKFB) has participated in three simultaneous raids against retailers of counterfeit bearings in China. The raids, which were led by Chinese police, resulted in the seizure of counterfeit bearings which may otherwise have been sold to industrial customers and end-users. Tina Astrom, Director, Group Brand Protection, says: “Counterfeit products are often associated with luxury and consumer brands, but they are also a problem for industrial ...

December 6, 2016 1 EN
 PRESS RELEASE
Free
SKF A SKF AB SERIES A

SKF Invests SEK 150 million in Schweinfurt Production Channels

GÖTEBORG, Sweden--(BUSINESS WIRE)-- SKF (STO:SKFB) (STO:SKFA) (Pink Sheets:SKFRY) (LSE:SKFB) is investing SEK 150 million in modernizing its cylindrical roller bearing (CRB) manufacturing in Schweinfurt, Germany. This is the third significant manufacturing investment announced by SKF in the last 18 months, following the announcement of similar investments in Gothenburg, Sweden and Flowery Branch, USA. The investment in Schweinfurt will involve the implementation of the latest technologies within machining, assembly and packa...

November 3, 2016 1 EN
 PRESS RELEASE
Free
SKF A SKF AB SERIES A

SKF Nine-Month Report 2016

GÖTEBORG, Sweden--(BUSINESS WIRE)-- Regulatory News: SKF (STO:SKFA) (NQB:SKFRY) (STO:SKFB) (LSE:SKFB) Alrik Danielson, President and CEO: “Organic sales were relatively unchanged compared to last year. According to seasonality, organic sales were lower compared with the second quarter. Net sales in the quarter were SEK 17.9 billion, operating profit was SEK 2 191 million and our operating margin was 12.2%. Excluding positive one-time items of SEK 380 million, operating profit was SEK 1 811 ...

October 26, 2016 1 EN
 PRESS RELEASE
Free
SKF A SKF AB SERIES A

SKF and GE Oil & Gas Sign Collaboration Agreement to Develop Use of Ac...

GÖTEBORG, Sweden--(BUSINESS WIRE)-- Collaboration agreement widens scope of use for active magnetic bearings for turbomachinery within the oil and gas sector. SKF (STO:SKFB) (STO:SKFA) (Pink Sheets:SKFRY) (LSE:SKFB) (Pink Sheets:SKFRY) and GE Oil & Gas have signed a non-exclusive, licence-based collaboration agreement, aimed at further developing the use of active magnetic bearing technologies within the oil and gas sector. As part of the agreement, GE Oil & Gas will make use of SKF’s leading magnetic bearing...

October 17, 2016 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch