SKF redesigns Industrial organization to increase competitiveness [Yahoo! Finance]
SKF AB S/ADR (SKFRY)
NASDAQ:AMEX Investor Relations:
skf.com/group/investors/investor-relations
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Source: Yahoo! Finance
The new set-up, which will be implemented with immediate effect, will drive business synergies across the full value chain globally and simplify structures to accelerate execution regionally. The functions Operations and Commercial excellence are combined into one which will enable a stronger alignment, governance and end-to-end execution across the full value chain. The business area Independent and Emerging Businesses will be discontinued. Its stand-alone entities will be organized in Specialized Industrial Solutions to further strengthen these strategic core businesses as they are tailored according to respective business and market needs. "As the separation of the Automotive business is progressing, we have the opportunity to adapt our set-up for the Industrial business. This is a natural next step in our strategic journey and with clearer and more efficient structures, we will strengthen both our strategic and commercial capabilities," says Rickard Gustafson, President and CE
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