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).
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Famous quotes containing the words present, day and/or business:
“Thus hulling in
The wild sea of my conscience, I did steer
Toward this remedy, whereupon we are
Now present here together.”
—William Shakespeare (1564–1616)
“One of the saddest things is that the only thing that a man can do for eight hours a day, day after day, is work. You can’t eat eight hours a day nor drink for eight hours a day nor make love for eight hours—all you can do for eight hours is work. Which is the reason why man makes himself and everybody else so miserable and unhappy.”
—William Faulkner (1897–1962)
“I have said many times, and it is literally true, that there is absolutely nothing that could keep me in business, if my job were simply business to me. The human problems which I deal with every day—concerning employees as well as customers—are the problems that fascinate me, that seem important to me.”
—Hortense Odlum (1892–?)