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SKF AB - SKFRY STOCK NEWS

Welcome to our dedicated news page for SKF AB (Ticker: SKFRY), a resource for investors and traders seeking the latest updates and insights on SKF AB.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SKF AB's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SKF AB's position in the market.

News
Rhea-AI Summary
Aktiebolaget SKF held its Annual General Meeting on March 26, 2024, where a dividend of SEK 7.50 per share was approved. The Board members were re-elected, and various committees' remuneration was set. The Performance Share Programme 2024 was also approved, aiming to reward senior managers and key employees based on performance targets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.4%
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Rhea-AI Summary
SKF appoints Mukund Vasudevan as President, Industrial Region India and Southeast Asia (ISEA) to drive profitable growth. Mukund brings extensive multinational executive experience and entrepreneurial perspectives to SKF's strategic transformation.
Rhea-AI Impact
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End-of-Day
-1.53%
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News
Rhea-AI Summary
Aktiebolaget SKF announces Annual General Meeting in Sweden
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.1%
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none
Rhea-AI Summary
SKF announces changes in group management to accelerate strategic transformation and profitable growth. Manish Bhatnagar is appointed as the new President, Industrial Region Americas, while Fredrik Hallen will take interim charge as President for the ISEA region. John Schmidt, the current President, Industrial Region Americas, will leave SKF. The company aims to find new opportunities and increase competitiveness.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.84%
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Rhea-AI Summary
SKF has achieved a significant sustainability milestone by entering two Renewable Energy Certificate (REC) purchase agreements in North America, enabling its U.S. and Canada facilities to achieve 100% renewable electricity. The partnership includes investing in Green-e certified wind energy and a 12-year agreement with Clearway Energy Group for a portion of the RECs generated from a 452 MW solar farm. This is SKF's first long-term REC procurement at scale in the U.S., reinforcing its commitment to reducing carbon emissions and supporting renewable energy projects. The agreements are part of SKF's broader sustainability agenda, aiming to decarbonize operations by 2030 and become net zero throughout the value chain by 2050.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.42%
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Rhea-AI Summary
SKF's Nomination Committee proposes the re-election of the board members and the Chair of the Board of Directors. Additional proposals will be published in conjunction with the notice of the Annual General Meeting 2024. The Nomination Committee consists of prominent individuals from various organizations. For further information, contact the Head of Media Relations or Investor Relations. The proposal document is available for download.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.27%
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management
Rhea-AI Summary
SKF, a Swedish company, will release its full-year results for 2023 on January 31, 2024. The results will be available on the Group's IR website. A webcast will be held in English at 08:00 (CET), with the link and phone numbers provided. Interviews with the President, CEO, and CFO can be arranged after the webcast.
Rhea-AI Impact
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End-of-Day
-1.09%
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Rhea-AI Summary
SKF (Aktiebolaget SKF) announces a transfer of supply from the Busan factory, Korea, to China, India, and Mexico, with a full closure of the Busan site expected in Q1 2024. The move aims to regionalize operations and enhance customer proximity, particularly in the Automotive industry. The factory currently employs 90 workers and mainly manufactures bearing products. The decision supports SKF's Automotive strategy and portfolio re-positioning towards electric vehicle drivetrain and commercial vehicle segments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.14%
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Rhea-AI Summary
AB SKF (SKF) confirms that as of November 30, 2023, the Company's share capital amounts to SEK 1,138,377,670, with a total of 29,316,933 shares of Series A and 426,034,135 shares of Series B. The number of votes in the Company amounts to 71,920,346.5. AB SKF does not hold any own shares.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.9%
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none
Rhea-AI Summary
SKF: Acquires 2C Composites, a German high-performance fibre composite supplier, to strengthen magnetic bearings offer. The acquisition secures a leading technology of composite layers, enhancing the Group's magnetic bearings business. In 2022, SKF secured a record order intake for magnetic bearings products of over SEK 1 billion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.36%
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acquisition
SKF AB

OTC:SKFRY

SKFRY Rankings

SKFRY Stock Data

9.52B
335.20M
0.06%
Ball and Roller Bearing Manufacturing
Manufacturing
Link
Sweden
Gothenburg