SKF completes previously announced divestment of L&AT business, resulting in a net gain of SEK 1.2 billion

Release Time：04 Dec,2018

<p> <span style="color:#000000;font-family:Arial;font-size:12px;">Previously announced divestment results in a net gain of SEK 1.2 billion. Unrelated to the divestment, impairments of assets and customer settlement costs totalling approximately SEK 300 million to impact operating result in Q4 2018.</span> </p> <p> <span style="color:#000000;font-family:Arial;font-size:12px;">SKF has completed the previously announced divestment of its linear and actuation technology business to Triton.</span> </p> <p> <span style="color:#000000;font-family:Arial;font-size:12px;">The total consideration of the divestment is SEK 2.75 billion on a cash- and debt-free basis. The closing of the divestment will have a positive effect on the operating result for Q4 2018 of SEK 1.2 billion.</span> </p> <p> <img alt="" src="http://www.bearing.com.cn/membcentre/editor/attached/image/20181204/20181204125823_69348.png" /> </p> <p> <span style="color:#000000;font-family:Arial;font-size:12px;">Christian Johansson, Senior Vice President and CFO says, “Our efforts to focus on our core business around the rotating shaft has generated approximately SEK 7 billion during the last three years. These funds have been used to strengthen the balance sheet and increase investments in manufacturing and R&amp;D. We now have a stronger financial position from which to build upon.”</span> </p> <p> <span style="color:#000000;font-family:Arial;font-size:12px;">Unrelated to the divestment, impairments of assets and costs associated with customer settlements will have a negative effect on the operating result for Q4 2018 of approximately SEK 300 million.</span> </p>