GOTHENBURG, Sweden, April 14, 2025 /PRNewswire/ — SKF has finished the up to now introduced divestment of its ring and seal operation in Hanover, Pennsylvania, USA, to Carco PRP Workforce for a complete undertaking worth of USD 215 million, akin to roughly SEK 2.1 billion. The divestment will lead to a capital acquire amounting to roughly SEK 0.8 billion in Q2 and might be reported as Pieces affecting comparison.

“We are committed to create a more focused and resilient SKF to serve our customers even better and to accelerate profitable growth. Divesting this successful but non-core business at accretive multiples is an important part of this. At the same time, we continue to invest and strengthen our position in core Aerospace segments,” says Rickard Gustafson, President and CEO.

Aerospace will stay a immense, strategic branch additionally later the divestment with a percentage of commercial gross sales akin to roughly 9 p.c. Investments in good core aeroengine and construction bearing choices stay a concern for SKF.

The Hanover divestment is in form with SKF’s strategic overview of its aerospace industry, communicated on 27 October 2023, to concentrate on core aerospace industry and to move fields which can be non-strategic. As up to now introduced, the Workforce is exploring choices to move the precision elastomeric instrument (PED) aerospace operation in Elgin, Illinois, USA, additionally known as non-strategic however smaller than Hanover.

Earlier press loose on matching subjects:
29 October 2024: SKF divests non-core aerospace operation for USD 220 million [link to press release]

Aktiebolaget SKF
      (publ)

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