SKF Overview
Company Headquarters: Gothenburg, Sweden
Founded: 1907
Workforce: ~45,678
Company Working: SKF is a global leader in delivering technology for bearings and units, seals, mechatronics, services, and lubrication systems. In order to achieve breakthroughs in energy efficiency, friction reduction, and equipment longevity and reliability, the company operates through two business segments, which are industrial and automotive. High-speed motors fall under its industrial segment. The company provides industrial drives, heavy industrial machines, and special machinery, which cater to a wide range of end users, such as industries, aerospace, energy, railway, off-highway. SKF invests in research and development activities to develop advanced technology for almost every industry vertical. For instance, in 2017, the company spent 3.1% of its net sales on research and development.
SKF has 51 subsidiaries. Lincoln Industrial Corporation, Kaydon Corporation, and SKF Economos GmbH are its key subsidiaries. The company has an extensive geographical presence in 130 countries across the globe with more than 17,000 distributors and manufacturing facilities in 24 countries.
Strategy
SKF AB emphasizes investing in research and development to innovate products with enhanced capabilities to ensure customer satisfaction. The company also focuses on cost competitiveness to maintain its global position. The company maximizes cash flow over time to maintain the production services and for marketing its products.
