Previously announced divestment results in a net gain of
SEK 1.2 billion. Unrelated to the
divestment, impairments of assets and customer settlement costs
totalling approximately SEK 300
million to impact operating result in Q4 2018
GOTHENBURG, Sweden,
Dec. 3, 2018 /PRNewswire/ -- SKF has
completed the previously announced divestment of its linear and
actuation technology business to Triton.
The total consideration of the divestment is SEK 2.75 billion on a cash- and debt-free basis.
The closing of the divestment will have a positive effect on the
operating result for Q4 2018 of SEK 1.2
billion.
Christian Johansson, Senior Vice
President and CFO says, "Our efforts to focus on our core business
around the rotating shaft has generated approximately SEK 7 billion during the last three years. These
funds have been used to strengthen the balance sheet and increase
investments in manufacturing and R&D. We now have a stronger
financial position from which to build upon."
Unrelated to the divestment, impairments of assets and costs
associated with customer settlements will have a negative effect on
the operating result for Q4 2018 of approximately SEK 300 million.
Aktiebolaget SKF
(publ)
For further information, please contact:
PRESS:
Theo Kjellberg
Director
Press Relations
Tel: +46-31-337-6576
Mobile: +46-725-776576
e-mail: theo.kjellberg@skf.com
INVESTOR RELATIONS:
Patrik Stenberg
Head of Investor Relations
Patrik Stenberg
Tel: +46-31-337-2104
Tel: +46-705-472-104
patrik.stenberg@skf.com
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/skf/r/skf-completes-previously-announced-divestment-of-l-at-business--resulting-in-a-net-gain-of-sek-1-2-b,c2690035
The following files are available for download:
http://mb.cision.com/Main/637/2690035/956721.pdf
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