The bearings giant also plans to reposition its Automotive business, while continuing to invest in its physical footprint.
On Feb. 3, bearings maker SKF detailed plans for a new strategic framework that includes a decentralized operating model.

Rickard Gustafson, President and CEO:

“SKF has something that very few industrial companies have: a deep understanding of almost all industrial applications. Everywhere there is rotation, there is a good chance that SKF products, capabilities and skilled colleagues are providing value in the form of improved operational performance and reduced emissions.

SKF’s ability to master the complexity of meeting customer needs across a wide range of industries and numerous geographies, is our greatest strength and a key to our success. Our broad business reach gives us a platform to drive profitable growth, as it allows us to continuously target the most attractive opportunities.

Key megatrends and increased investments in sustainability, digitalization, regionalization and electrification will also provide profitable growth opportunities for SKF.

All in all, SKF is well-positioned to accelerate profitable growth by targeting opportunities where strong market demand matches our ability to differentiate and provide customer value.

Source: Industrial Distribution