SKF Finalizes Strategic Divestment of Ring and Seal Operations in Hanover, USA
SKF Completes Strategic Divestment in Hanover
In a significant move aimed at refocusing its business, SKF has officially completed the sale of its ring and seal operations located in Hanover, Pennsylvania, to Carco PRP Group. This divestment, which was previously announced, carries an enterprise value of USD 215 million, roughly equivalent to SEK 2.1 billion. With this sale, SKF anticipates a capital gain of approximately SEK 0.8 billion in the second quarter of the fiscal year.
Rickard Gustafson, SKF's President and CEO, highlighted that the divestment is crucial for the company's strategy to create a
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