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:
“The future is just as much a condition of the present as is the past. “What shall be and must be is the ground of that which is.””
—Friedrich Nietzsche (1844–1900)
“[T]hat moment of evening when the light and the darkness are so evenly balanced that the constraint of day and the suspense of night neutralize each other, leaving absolute mental liberty. It is then that the plight of being alive becomes attenuated to its least possible dimensions.”
—Thomas Hardy (1840–1928)
“I’m not in business to be loved, but I am in business.”
—Robert Towne (b. 1936)