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AB SKF ADR (SKFRY)

- OTCPK - Current
  • 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.
    | Sep. 5, 2013, 7:20 AM | Comment!
  • Jun. 13, 2012, 8:18 AM
    Swedish 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 | Comment!
  • Oct. 19, 2010, 8:30 AM
    Sweden's SKF (SKFRY.PK) buys U.S.-based Lincoln Industrial for $1B, giving the firm a larger North American presence and adding almost $400M in annual sales. SKF also ups its financial forecasts, expecting increased orders in Q4 as markets get back to pre-crisis levels.
    | Oct. 19, 2010, 8:30 AM | Comment!
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Company Description
The SKF Group is a leading global supplier of products, solutions and services within rolling bearings, seals, mechatronics, services and lubrication systems. Services include technical support, maintenance services, condition monitoring, asset efficiency optimization and training. SKF has more... More