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Swedish manufacturer SKF reported sales for the first quarter of SEK 15.2 billion (US$2.3 billion), a decline of 10.5 percent. Profit fell to SEK 818 million (US$125.9 million).
Sales in the first quarter in local currencies and excluding structure decreased by 10 percent both in Europe and North America, by 7 percent in Asia and by 6 percent in Middle East and Africa. In Latin America they increased by 8 percent.