Banner

- - -

JOBS

EXECUTIVE JOBS

INVEST IN STOCKHOLM NEWSLETTER

SWEDISH WIRE NEWSLETTER

EMBASSIES/
CONSULATES
IN SWEDEN

RSS FEEDS

STOCKS

FLIGHTS, HOTELS AND HOLIDAYS

- - -
Investment opportunities

Tips from an insider: Five innovative tech startups

Tips from an insider: Stockholm tech start-ups

5 hot life science firms in Stockholm

Stockholm's top five infrastructure projects

Four Stockholm-based ICT firms to watch

Stockholm pioneers life science research

ICT startups offer investment opportunity

Swedish companies ready for exit

Five med-tech investment opportunities

Six cleantech investment opportunities

- - -
Rankings and surveys

Sweden tops English-language skills ranking

Sweden ranked world's best country to grow old

Swedish passport world's best for travellers

Sweden second best country for mothers

Stockholm climbs in competitiveness rankings

Sweden among best countries to be born

Fortune: 'Stockholm top place for startups'

Sweden tops first global Web Index

Sweden world's second most innovative country

Stockholm world's 6th 'best city'

'Cool Stockholm' most competitive Nordic capital

Sweden has (second) best reputation in the world

Sweden among top in Internet download speed

Sweden scores highest in 'Rule of law index'

Stockholm world's No1 in intellectual capital

Sweden the world's most ICT-competitive country

Sweden great place for moms – but Norway better

Swedes place 4th in English skills ranking

Sweden among top ICT countries

Sweden’s 10 greenest brands

‘Sweden needs to sell itself more’

Sweden overtakes the US in competitiveness

Sweden 10th ‘most admired country globally’

Sweden climbs in 'doing business' ranking

Sweden among world's least corrupt nations

Sweden's mortality rates world's second lowest

Sweden a good place to die – but Britain is best

Children in Sweden have best lives

Sweden the most competitive EU nation

Safe to do business with Swedes

How Sweden became an innovation frontrunner

Nordic countries world's most food-secure

Sweden the world’s best country – politically

Swedish firms among world's top brands

Swedish brands climb in global ranking

Sweden tops government ranking - while US lags 

'Swedish model' outranks 'American dream'  

Sweden among world's least corrupt nations

SKF: SKF sees slightly weaker volume development in the second quarter and will reduce costs in Europe

Press release published at The Swedish Wire


Based on a weaker development in Western Europe and Asia, the SKF Group expects demand for its products and services in the second quarter to be slightly lower than in the corresponding quarter last year and at a similar level to the first quarter of this year. The manufacturing level is being adjusted accordingly to reflect this demand situation.

"We are seeing a weaker development in our sales in Western Europe and Asia than we expected entering the quarter. In Europe, it is quite broad-based and even if some industries, such as aerospace and renewable energy, develop well for us, I think that the demand reflects what is happening in the financial markets and a general lack of confidence," says Tom Johnstone, SKF President and CEO. "In Asia, we saw some improvement in our sales as we went through the first quarter and into the second quarter. However, the demand in Asia, primarily China, needed to continue to improve and this has not happened yet. In India we have seen some weakening in our business, which is also broad-based reflecting the weak sentiment. Overall, I see a more uncertain demand situation at present globally, but based on what has been happening in the second quarter, this is not a surprise."

In addition, SKF has taken steps to reduce its cost base in Germany through the introduction of voluntary early retirement and redundancy schemes. Both of these schemes are underway and are expected to result in a reduction of around 400 people with annual savings of around SEK 170 million when fully implemented in 2016. In 2013, the estimated savings will be around SEK 120 million. The total cost for these schemes is estimated at around SEK 170 million, which is expected to be taken as a one off cost in the second quarter impacting the business area Industrial Market, Strategic Industries.

Gothenburg, 13 June 2012

Aktiebolaget SKF
(publ)

+------------------------------------------------------------------------------+
|AB SKF is required to disclose the information provided herein pursuant to the|
|Securities Markets Act and/or the Financial Instruments Trading Act. The |
|information was submitted for publication at 09:00 on 13 June 2012. |
+------------------------------------------------------------------------------+

For further information, please contact:
PRESS: Rebecca Ehlinger-Janzon, SKF Group Communication, tel: 46 31-337 2400, mobile: 46 727-173880, e-mail: Rebecca.janzon@skf.com
IR: Marita Björk, SKF Investor Relations, tel: 46 31-337 1994, mobile: 46 705-181994, e-mail: marita.bjork@skf.com

SKF is a leading global supplier of bearings (http://www.skf.com/portal/skf/home/products?contentId=876709&lang=en), seals (http://www.skf.com/portal/skf/home/products?contentId=238358&lang=en), mechatronics (http://www.skf.com/portal/skf/home/products?contentId=447144&lang=en), lubrication systems (http://www.skf.com/portal/skf_lub?lang=en), and services (http://www.skf.com/portal/skf_lub/home/services?contentId=867934&lang=en) which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. Annual sales in 2011 were SEK 66,216 million and the number of employees was 46,039. www.skf.com
This information was distributed by Cision
 

Latest Jobs for English speakers in Sweden

Banner

Jobs for English speakers in Sweden

Banner
Banner
Most Read Searched  
Banner
Banner
Banner