Present Day Business
Today, SKF is the largest bearing manufacturer in the world and employs approximately 40,000 people in approximately 100 manufacturing sites that span 70 countries. Turnover for FY2005 was SEK49,285 million, and total assets were SEK40,349 million. The SKF Group currently consists of approximately 150 companies including the seal manufacturer Chicago Rawhide. Since its founding, SKF's company headquarters have been located in Gothenburg. One recent acquisition was that of Economos, part of Salzer Holding, an Austria-based seal company, Jaeger Industrial and ABBA, Taiwanese manufacturers of linear actuators.
The company's clients include General Electric, Rolls-Royce plc and Pratt and Whitney. It also supplies bearings for Ferrari racing vehicles, used in Formula One races, and is a sponsor of F1. Another focus area is the energy sector, including wind turbines which generate electricity.
SKF currently sponsors Penske Racing in NASCAR.
SKF is a member of World Bearing Association (WBA).
Read more about this topic: SKF
Famous quotes containing the words present, day and/or business:
“We should be blessed if we lived in the present always, and took advantage of every accident that befell us, like the grass which confesses the influence of the slightest dew that falls on it; and did not spend our time in atoning for the neglect of past opportunities, which we call doing our duty.”
—Henry David Thoreau (1817–1862)
“I do not portray the thing in itself. I portray the passage; not a passing from one age to another, or, as the people put it, from seven years to seven years, but from day to day, from minute to minute.”
—Michel de Montaigne (1533–1592)
“Faultless honesty is a sine qua non of business life. Not alone the honesty according to the moral code and the Bible. When I speak of honesty I refer to the small, hidden, evasive meannesses of our natures. I speak of the honesty of ourselves to ourselves.”
—Alice Foote MacDougall (1867–1945)