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.
SKF AB (SKFRY) reports developments tied to its Industrial and Automotive businesses, including sales trends, adjusted operating margin, cash flow, pricing, portfolio management and cost actions. Company updates also cover the redesign of Industrial operations, the organization of Specialized Industrial Solutions, and manufacturing capacity for magnetic bearings and components used in high-speed electric motors.
Recurring SKF news includes sustainability disclosures and CDP ratings related to climate governance, Scope 3 emissions and supplier engagement. Corporate updates also include Annual General Meeting actions, dividends, board and committee matters, and brand identity changes.
SKF announced it will release its nine-month results for 2021 on October 26, 2021, at 08:00 (CET). Investors, analysts, and media are invited to participate in a webcast starting at 09:00 (CET). To join, stakeholders must log in at least 10 minutes prior to the event. Detailed results will also be available on the Group's website. Post-webcast interviews can be scheduled with company representatives.
SKF is collaborating with Luleå University of Technology's CH2ESS initiative to advance the development of fossil-free bearing steel. This partnership includes funding research focused on hydrogen use in industrial processes, enhancing the production of eco-friendly bearing steel. The initiative aims to support the hydrogen economy, leveraging SKF's expertise in material science and production technology. The collaboration is expected to significantly impact both Swedish industry and global technology advancements in sustainable energy systems.
As of September 30, 2021, AB SKF reports a share capital of SEK 1,138,377,670 following the conversion of shares from Series A to Series B. The company now has a total of 30,582,656 Series A shares and 424,768,412 Series B shares, resulting in 73,059,497.2 total voting rights. AB SKF does not hold any of its own shares. This announcement is compliant with the Financial Instruments Trading Act and was published at 8:00 CET on September 30, 2021.
AB SKF announces the formation of the Nomination Committee for its Annual General Meeting (AGM) scheduled for March 24, 2022. The committee comprises representatives from the company’s four largest shareholders, including Marcus Wallenberg from FAM and Anders Algotsson from AFA Försäkring. Shareholders can submit proposals for Board members and related matters until one month prior to the AGM. This committee will play a crucial role in shaping the Board structure ahead of the meeting.
SKF has successfully acquired EFOLEX AB, a Gothenburg-based manufacturer of Europafilter industrial lubrication and oil filtration systems. EFOLEX specializes in offline filtration systems used in process manufacturing and energy sectors and has around 10 employees. According to Thomas Fröst, President of Industrial Technologies, this acquisition enhances SKF's lubrication management capabilities and aligns well with SKF RecondOil's Double Separation Technology.
SKF has acquired Rubico Consulting AB, enhancing its analytics capabilities. Based in Luleå, Sweden, Rubico specializes in visualizing and analyzing signal data, which will integrate into SKF's rotating shaft offerings and advance technologies like fiber-optic sensors. The patented edge algorithm from Rubico automates machine data analysis, supporting energy-efficient systems. This acquisition aligns with SKF's commitment to develop its IoT hub in Luleå, a region emerging as a center for industrial innovation.
SKF has secured a long-term agreement with Stadler Rail, valued at several million Euros, to equip and service the Berlin underground (U-Bahn). Over 32 years, SKF will supply spare parts and service more than 606 rail carriages, with a potential expansion to 1,500. The contract, part of a €3 billion vehicle purchasing program by Berliner Verkehrsbetriebe (BVG), includes over 12,000 wheelset bearings, featuring a plasma coating to prevent electrical damage. This collaboration aims to enhance train reliability and uptime, demonstrating SKF's extensive technical expertise and commitment to customer needs.
On August 2, 2021, AB SKF announced a conversion of shares from Series A to Series B, impacting its capital structure. As of July 30, the company holds a share capital of SEK 1,138,377,670, with a total of 30,658,879 Series A shares and 424,692,189 Series B shares. The total voting power now stands at 73,128,097.9. Notably, AB SKF does not possess any own shares. This information fulfills the company's obligations under the Financial Instruments Trading Act.
On May 31, 2021, AB SKF confirmed a conversion of shares from Series A to Series B, resulting in a total share capital of SEK 1,138,377,670. The company now has 30,819,375 shares of Series A and 424,531,693 shares of Series B, affecting the total number of votes to 73,272,544.3. AB SKF does not hold any own shares. This announcement is made pursuant to the Financial Instruments Trading Act, and was publicly disclosed at 8:00 CET on the same date.
The Board of AB SKF has announced the appointment of Rickard Gustafson as the new President and CEO, effective 1 June 2021. This decision follows the earlier announcement made on 11 January 2021. Gustafson's leadership aims to guide SKF through its next phase, succeeding Alrik Danielson, who is set to step down during the same year. This transition marks a significant change in the company’s leadership structure, aiming to enhance strategic direction.