SKF completes previously announced divestment of its ring and seal operation in Hanover, USA

Aerospace will remain a large, strategic segment also after the divestment with a share of industrial sales corresponding to approximately 9 percent. Investments in strengthening core aeroengine and structure bearing offerings remain a priority for SKF.

The Hanover divestment is in line with SKF's strategic review of its aerospace business, communicated on 27 October 2023, to focus on core aerospace business and to exit areas that are non-strategic. As previously announced, the Group is exploring options to exit the precision elastomeric device (PED) aerospace operation in Elgin, Illinois, USA, also identified as non-strategic but smaller than Hanover.

Previous press release on similar topics:
29 October 2024: SKF divests non-core aerospace operation for USD 220 million [link to press release]

Aktiebolaget SKF
      (publ)

For further information, please contact:
Press Relations: Carl Bjernstam, +46 31-337 2517; +46 722 201 893; [email protected] 
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072; [email protected] 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/skf-completes-previously-announced-divestment-of-its-ring-and-seal-operation-in-hanover--usa,c4135329

The following files are available for download:

View original content:https://www.prnewswire.co.uk/news-releases/skf-completes-previously-announced-divestment-of-its-ring-and-seal-operation-in-hanover-usa-302427387.html