SKF hosts Capital Markets Day; announces updated strategy and new financial targets [Yahoo! Finance]
SKF AB S/ADR (SKFRY)
NASDAQ:AMEX Investor Relations:
skf.com/group/investors/investor-relations
Company Research
Source: Yahoo! Finance
At the event, deeper insights are provided into the strategic direction of both the Industrial and the Automotive businesses post the planned separation of Automotive from SKF Group. Given different business dynamics, manufacturing processes, end markets and success drivers for the Industrial and Automotive business segments, significant value is expected to be unlocked by being two standalone businesses. "We are creating two even sharper businesses with a clearer focus on distinct opportunities to enhance customer value, accelerate growth, as well as improve efficiency and competitiveness," says Rickard Gustafson, President and CEO. The increased value creation that the separation of the Automotive business is expected to bring is reflected in the new long-term targets and indicative objectives post separation for the Industrial and Automotive businesses respectively. New financial targets The long-term financial targets over a business cycle for SKF Group post separation of
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