SKF to check the aerospace industry
2022.12.08 05:57
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SKF to check the aerospace industry
Budrigannews.com – Swedish direction creator SKF said on Thursday it was checking on the responsibility for aviation business, affirming prior reports.
In a statement released ahead of its capital markets day presentation on Thursday, SKF stated, “CEO Rickard Gustafson will announce that the group is conducting a strategic review of its Aerospace business, considering ongoing consolidation in the industry.”
Berenberg, a brokerage, says that aerospace makes up about 5% of group sales.
In a note, Berenberg mentioned that Timken and MinebeaMitsumi, as well as the German rival Schaeffler, might be interested in purchasing the company.
Bloomberg News reported on Tuesday that calls for a change had been made by activist investor Cevian Capital, SKF’s second-largest shareholder.
In addition, SKF confirmed its outlook for the October-December quarter and its long-term financial goals on Thursday.
In a statement, SKF stated, “We expect organic growth for the full year to end in the upper part of our previously guided range of about 4-8%.” Looking into the fourth quarter of 2022, the company anticipates organic sales growth of approximately 10%.
