The Local Sweden

Industry bellwether SKF recovers to turn profit

Tue, 15 Apr 2014 16:05:00 +0200

After a drab end to 2013, Swedish ballbearing makers SKF anew posted a profit in its first quarter review. It could spell good news for the manufacturing industry worldwide.

SKF sets aside millions for anti-trust probe

Fri, 20 Dec 2013 13:39:48 +0100

The world's largest industrial ball bearing makers on Friday said it would set aside almost half a billion dollars to pay a possible fine, as the European Commission looks into whether SKF broke anti-trust laws.

Industry bails on Swedish ball bearings

Wed, 16 Oct 2013 09:17:00 +0200

Swedish ball bearing manufacturer SKF announced Tuesday a decrease of its net profit in the third quarter, amid lower-than-expected sales in its industrial business.

Swedish bearings giant buys US firm Kaydon

Thu, 05 Sep 2013 15:47:00 +0200

Sweden's SKF, the world's biggest maker of industrial bearings, announced on Thursday it had acquired US bearings manufacturer Kaydon for $1.25 billion (€948 million).

SKF stock climbs on profits surprise

Tue, 16 Jul 2013 11:31:00 +0200

Sweden's SKF, the world's biggest maker of industrial bearings, has reported a second quarter profit ahead of analyst forecasts, with stock markets responding positively to the news on Tuesday morning.

Swedish ball-bearing giant slashes 2,500 jobs

Mon, 14 Jan 2013 10:52:00 +0100

Sweden's SKF, the world's biggest maker of industrial bearings, announced on Monday it was cutting 2,500 jobs, a move widely regarded as a tell-tale sign of tougher times ahead for the manufacturing industry.

Sweden's SKF in EU ball bearing probe

Wed, 09 Nov 2011 09:09:00 +0100

Swedish ball-bearings giant SKF was among the companies inspected by European anti-trust authorities on Tuesday in a series of surprise visits in several European Union states.

Swedish bearings firm SKF reports profits jump

Fri, 15 Jul 2011 16:05:00 +0200

Swedish ball-bearings giant SKF on Friday report a hike in second-quarter profit, aided by an improving automotive market.

'Swedish shipments to Nazis may have been ransom for captured Swedes'

Wed, 29 Jun 2011 14:32:00 +0200

Historical documents related to the capture of seven Swedes by the Gestapo in Poland in 1942 puts Sweden's subsequent ball bearing deliveries to Nazi Germany in a new light, argue historians Susanne Berger and Ingela Magner.

SKF head named Sweden's 'funniest' CEO

Tue, 22 Feb 2011 15:49:00 +0100

Tom Johnstone, the Scottish CEO of Swedish ball-bearing giant SKF has been named Sweden's funniest CEO in an competition backed by Comedy Central.

Sweden's SKF snaps up US firm on heels of strong results

Tue, 19 Oct 2010 13:55:00 +0200

Sweden's SKF, the world's biggest maker of industrial bearings, announced strong third quarter results on Tuesday, as well as the purchase of US-based engineered lubrication systems maker Lincoln Industrial.

SKF reports hike in profits after sales boost

Thu, 15 Jul 2010 13:06:00 +0200

Swedish industrial bearings giant SKF has reported an increase in second-quarter profits on the back of higher sales and production on 2009.

Sharp fall in earnings for ball bearings giant

Wed, 15 Jul 2009 16:48:00 +0200

Swedish ball bearing manufacturing SKF on Wednesday reported a 77 percent drop in earnings for the second quarter, blaming weak sales and restructuring costs.

Ball bearing giant bucks French resistance

Wed, 08 Jul 2009 11:32:00 +0200

Swedish firm SKF, the world's largest manufacturer of ball bearings, has shrugged off a local politician's vocal press criticism and is pushing ahead with plans to shut down a factory in France.

Sweden's SKF to cut 2,500 jobs worldwide

Wed, 10 Dec 2008 09:55:00 +0100

Swedish ball bearings manufacturer SKF announced on Tuesday that weakening demand in the automotive and industrial sectors has forced the company to trim its global workforce by 2,500 jobs.

SKF to establish Russian presence

Thu, 20 Dec 2007 17:14:00 +0100

Bearing company SKF has announced that it is to build a factory in Russia in order to make taper bearing units to supply to the growing Russian railway market. The factory will also have a channel dedicated to reconditioning of bearings.

SKF results exceed analysts' expectations

Wed, 18 Jul 2007 13:58:00 +0200

Swedish ball bearing manufacturer SKF has reported record sales and profit for the second quarter of 2007. The results were better than expected, with a profit before taxes of 1,957 million kronor (294 million dollars). That compares to 1,520 million kronor for the same period last year.

SKF on a roll

Fri, 14 Jul 2006 12:54:00 +0200

Swedish ball bearings and seals maker SKF reported record second quarter profits and sales in its interim report on Friday.

Swedish giants expand Chinese operations

Tue, 03 Jan 2006 14:52:00 +0100

Swedish exports to the Chinese market is falling - but at the same time, local production by Swedish industrial giants is growing.

SKF to cut 150 jobs in France

Thu, 15 Dec 2005 13:14:00 +0100

The Swedish group SKF, the world's leading maker of ball bearings, on Thursday said it would cut 150 jobs in France in response to weakening demand due to client relocations to low-cost countries.