SKF completes previously announced divestment of L&AT business, resulting in a net gain of SEK 1.2 billion
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.
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.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Next Wind power generation in China accounts for 4.8% of power generation in 2017
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
