SKF conducts strategic assessment of its Aerospace small business

Dec 8 (Reuters) – Swedish bearings maker SKF (SKFb.ST) said on Thursday it was reviewing the ownership of its aerospace company, confirming previously experiences.

“CEO Rickard Gustafson will announce that the Team is conducting a strategic overview of its Aerospace small business, considering ongoing consolidation in the marketplace,” SKF mentioned in a statement ahead of its funds markets working day.

Bloomberg News noted on Tuesday that a likely sale had been prompted by calls for a alter from its second premier operator, activist investor Cevian Funds.

SKF’s aerospace organization accounts for about 5% of group revenue, in accordance to brokerage Berenberg.

(This tale has been corrected to correct the spelling of ‘Aerospace’ in the headline)

Reporting by Marie Mannes and Terje Solsvik, editing by Anna Ringstrom

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