Welcome to our dedicated page for AB SKF news (Ticker: SKFRY), a resource for investors and traders seeking the latest updates and insights on AB SKF stock.
AB SKF (SKFRY) is a global leader in industrial technology solutions, specializing in precision bearing systems, lubrication management, and advanced engineering services. This comprehensive news hub provides investors and industry professionals with essential updates on SKF's strategic developments, product innovations, and market positioning.
Access timely press releases covering earnings reports, technology partnerships, and operational updates across key sectors including aerospace, heavy machinery, and sustainable manufacturing solutions. Our curated collection ensures you stay informed about SKF's initiatives in energy-efficient systems, condition monitoring technologies, and strategic portfolio adjustments.
Discover updates on SKF's global manufacturing advancements, customer-focused engineering projects, and industry leadership in bearing reliability solutions. The resource serves as your primary reference for understanding the company's approach to industrial challenges through cutting-edge lubrication technologies and precision component development.
Bookmark this page for direct access to verified information about SKF's operational milestones, ensuring you maintain current awareness of this industrial technology innovator's evolving market strategy and technical capabilities.
AB SKF (SKFRY) has announced a change in its total number of votes due to a conversion of shares from Series A to Series B, in accordance with the company's Articles of Association. As of September 30, 2024, AB SKF's share structure is as follows:
- Total shares: 455,351,068
- Series A shares: 29,235,933
- Series B shares: 426,115,135
- Total number of votes: 71,847,446.5
The company confirmed that it does not hold any of its own shares. This information was released to comply with the Financial Instruments Trading Act and was submitted for publication on September 30, 2024, at 08:00 CEST.
SKF (SKFRY) has announced a strategic acquisition of John Sample Group's (JSG) Lubrication and Flow Management businesses, strengthening its position in the lubrication management sector. This move expands SKF's presence in the India and South-East Asia (ISEA) region, targeting a critical aspect of machine reliability. JSG, with annual sales of approximately SEK 550 million, will boost SKF's Lubrication Management business to around SEK 7 billion in net sales.
The acquisition provides SKF access to JSG's wide customer base, sales and distribution network, and engineering capabilities. It aligns with SKF's strategy to offer tailored lubrication solutions and improve bearing performance. The deal is expected to be completed in Q4 2024, enhancing SKF's ability to address premature bearing failures caused by poor lubrication and contamination.
SKF (SKFRY) has announced that Niclas Rosenlew, Senior Vice President and CFO, will be leaving the company in January 2025 to pursue opportunities outside SKF. Rickard Gustafson, President and CEO, expressed gratitude for Rosenlew's contributions and wished him well. A recruitment process to find a successor has been initiated.
This leadership change in SKF's Group Management could potentially impact the company's financial strategy and operations. Investors and stakeholders will likely be watching closely for updates on the CFO succession plan and any potential shifts in financial direction that may result from this change.
SKF has announced it will publish its half-year results for 2024 on July 18 at approximately 07:00 CEST. The results will be accessible on the company's investor relations website. A webcast in English will follow at 08:00 CEST, for which participants are advised to log in 10 minutes early. The webcast link and international dial-in numbers have been provided. Media can book interviews with SKF's President and CEO, Rickard Gustafson, or CFO, Niclas Rosenlew. For more information, contact Carl Bjernstam or Sophie Arnius.
SKF will showcase advanced, sustainable solutions at its first-ever virtual Tech & Innovation Summit on June 19, 2024. The event will highlight new technologies designed to enhance reliability, energy efficiency, and performance for various industrial sectors. Key innovations include the SKF Extreme Super Precision Bearing platform, condition monitoring and lubrication systems, and SKF's Sealed split SRB for heavy industries. These solutions aim to reduce maintenance costs and downtime while promoting sustainability. SKF's leadership emphasizes their commitment to customer collaboration and technological progress.
On May 31, 2024, SKF announced a conversion of shares from Series A to Series B, impacting the company's share capital and voting rights. As of this date, SKF's share capital stands at SEK 1,138,377,670, with 29,271,933 Series A shares and 426,079,135 Series B shares. The total number of votes now amounts to 71,879,846.5. SKF clarified that it does not hold any of its own shares. This announcement was made public in compliance with the Financial Instruments Trading Act.
