SKF announced on April 22 that it has stopped all business and operations in Russia and will gradually divest its Russian operations while ensuring the benefits of its approximately 270 employees there.
In 2021, Sales in Russia accounted for 2% of SKF group turnover. The company said a financial write-down related to the exit would be reflected in its second-quarter report and would involve about 500 million Swedish kronor ($50 million).
SKF, founded in 1907, is the world's largest bearing manufacturer. Headquartered in Gothenburg, Sweden, SKF produces 20% of the same kind of bearings in the world. SKF operates in more than 130 countries and territories and employs more than 45,000 people worldwide.
Post time: May-09-2022