GOTHENBURG, Sweden, April 14, 2025 — SKF has finalized the sale of its ring and seal business in Hanover, Pennsylvania, USA, to Carco PRP Group for a total enterprise value of USD 215 million, which is approximately SEK 2.1 billion. This sale will generate a capital gain of roughly SEK 0.8 billion in Q2 and will be reported as an item affecting comparability.

“We are dedicated to building a more focused and robust SKF to better serve our customers and accelerate profitable growth. Selling this successful but non-core business at attractive multiples is a key part of this strategy. Simultaneously, we are continuing to invest in and strengthen our position in core Aerospace segments,” states Rickard Gustafson, President and CEO.

Even after the divestment, Aerospace will remain a significant, strategic segment, representing about 9 percent of industrial sales. SKF remains committed to investing in and reinforcing its core aeroengine and structure bearing offerings.

The Hanover divestment aligns with SKF’s strategic review of its aerospace business, announced on 27 October 2023, which aims to concentrate on the core aerospace business and exit non-strategic areas. As previously mentioned, the Group is considering options for exiting the precision elastomeric device (PED) aerospace operation in Elgin, Illinois, USA, which is also considered non-strategic but is smaller than the Hanover operation.

Previous press release on similar topics:
29 October 2024: SKF divests non-core aerospace operation for USD 220 million []

Aktiebolaget SKF
      (publ)

For further information, please contact:
Press Relations: Carl Bjernstam, +46 31-337 2517; +46 722 201 893;  
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072;  

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