SKF divests non-core aerospace operation for USD 220 million [Yahoo! Finance]
SKF AB S/ADR (SKFRY)
NASDAQ:AMEX Investor Relations:
skf.com/group/investors/investor-relations
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Source: Yahoo! Finance
As part of the decision from the Group'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, SKF has signed an agreement to divest its ring and seal operation in Hanover, Pennsylvania , USA. The Hanover ring and seal operation is divested to Carco PRP Group, through its US aerospace subsidiary, PCTI, for a total enterprise value of USD 220 million , corresponding to approximately SEK 2.3 billion . The Hanover facility manufactures mechanical seals and rings, representing 2023 annual sales of approximately SEK 700 million "I'm pleased that we have been able to deliver on our prior promises and successfully reached an agreement to divest this successful but non-core business at accretive multiples. With a new owner, I'm confident that Hanover will continue to provide customers with top quality solutions. Aerospace will remain one of our largest customer industries and we will cont
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News
- SKF interim report Q3 2024: Solid margin and strong cash flow in weak marketsPR Newswire
- SKF interim report Q3 2024: Solid margin and strong cash flow in weak marketsPR Newswire
- SKF interim report Q3 2024: Solid margin and strong cash flow in weak marketsPR Newswire
- SKF divests non-core aerospace operation for USD 220 millionPR Newswire
- SKF divests non-core aerospace operation for USD 220 millionPR Newswire
SKFRY
Earnings
- 10/30/24 - Beat
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Analyst Actions
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