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Investing.com -- SKF said on Monday it has signed an agreement to sell its precision elastomeric device (PED) operation in Elgin, Illinois, USA to Carco PRP Group as part of its strategic focus on core aerospace business areas.
The deal is valued at approximately $70 million (about SEK 700 million) and involves an operation that generated annual sales of around SEK 260 million in 2024.
This divestment follows the completed sale of SKF’s Hanover operation, which was announced on April 14, 2025.
With both transactions, SKF will have successfully divested the non-core businesses identified in its aerospace strategic review.
Following these divestments, SKF will concentrate on its core aerospace segments related to aeroengine and aerostructure bearing offerings, which represent approximately SEK 6 billion in annual sales.
The company plans to strengthen these areas through increased investments in digitalization, automation, and modernization of its factories.
The Elgin PED divestment is expected to close during the fourth quarter of 2025, subject to regulatory approval.
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