Need Help? (888) 742-5060

In The News:

SKF Sales Up 9.5% in 2Q

Swedish bearing manufacturer SKF (STO: SKFA) Goteborg, Sweden, reported sales for the second quarter of SEK 17.9 billion (US$2.6 billion), up 9.5 percent over the same period a year ago. Profit increased 14 percent to SEK 2.1 billion (US$307.6 million).

“While the business mix remained somewhat negative the steps we are taking to improve the price/mix gave positive results,” said Tom Johnstone, president and CEO. “Our cost reduction program is also delivering the expected results and additional activities were announced in the quarter.”

Sales in the second quarter in local currencies and excluding structure increased by 1 percent in Europe, 3 percent in North America, 2 percent in Latin America, 14 percent in Asia and 14 percent in Middle East and Africa.

Year to date, sales were SEK 34.7 billion (US$5.1 billion), up 10 percent over the prior year period. Profit grew 28 percent to SEK 2.5 billion (US$367.3 million).

© 2019 Gale Media, Inc.

Please do not reprint MDM's content on your website without MDM's express permission as it is copyrighted material. To gain permission, email us, or call 1-888-742-5060. For information on PDF or print reprints, visit MDM welcomes inbound links from your site. Please cite Modern Distribution Management.

2018-top-distributors-listThe 2018 Top Distributors List

This free PDF includes lists of top distribution companies across 14 sectors.

You will also receive MDM Update, our daily distribution e-newsletter & other distribution-focused content.

Download the Free PDF now >>

MDM-UpdateMDM Update: Daily Newsletter 

Sign up to read the best source for news & trends in wholesale distribution, MDM Update. Delivered daily to your inbox. 

Sign-up for MDM Update >>

Partner Center