Stephen Simpson, CFA
Thu, Apr. 28, 5:49 AM
- AB SKF ADR (OTCPK:SKFRY): Q1 Revenue of SEK17.72B (-8.9% Y/Y).
Sep. 5, 2013, 7:20 AM
- Sweden's SKF, the world's biggest bearings maker, agrees to acquire Kaydon Corp. (KDN) in an all-cash deal valued at ~$1.25B.
- SKF (SKFRY.PK) has said it wants to expand in North America as industrial growth and modest wage increases make the region more attractive for major investments this year than China; KDN generates 62% of its sales ($475M total in 2012) in North America.
- The offer of $35.50/share represents a 22% premium over yesterday's closing price.
- KDN +22.5% premarket.
Jun. 13, 2012, 8:18 AMSwedish ball bearing maker (and cyclical bellweather) SKF tumbles 7% in Stockholm after cutting its Q2 sales forecast, citing slumping demand not only in Western Europe, but in Asia. "It is quite broad-based," says CEO Tom Johnstone. | Jun. 13, 2012, 8:18 AM | 1 Comment
Jan. 4, 2011, 10:40 AM
"I think the Riksbank is about to carry out a dangerous experiment," says a representative of Swedish exporters as the central bank raises rates to fight asset inflation. Already smarting from a 12% rise in the krona last year, Swedish companies brace for further currency strength.| Jan. 4, 2011, 10:40 AM
Oct. 19, 2010, 8:30 AM