SKF charges SEK 150 million to its financial net due to vendor loan in Ovako

SKF charges SEK 150 million to its financial net due to vendor loan in
Ovako

SKF divested its holding in Oy Ovako Ab in 2006 and a vendor note due
for repayment in 3-6 years was issued by the buyer. For more details
please see the press release dated 17 July 2006.

Due to a change of ownership in Ovako the company's debt position,
including the vendor note, has been restructured. As a result of this,
SKF will have a negative effect of around SEK 150 million, with no cash
effect, in its financial net for the third quarter.

 

Ovako is an important supplier to SKF and will continue to be considered
so under the new ownership

 

Gothenburg, 12 October 2010

 

Aktiebolaget SKF
(publ)

 

 

 

  AB SKF may be required to disclose the information provided herein
according to the Securities Markets Act and/or the Financial Instruments
Trading Act. The information was submitted for publication at 16.00 CEST
on 12 October 2010.  

For further information, please contact:
PRESS: Ingalill Östman, SKF Group Communication, tel: 46 31-337 3260,
mobile: 46 706-973260, e-mail: ingalill.ostman@skf.com
IR: Marita Björk, SKF Investor Relations, tel: 46 31-337 1994, mobile:
46 705-181994, e-mail: marita.bjork@skf.com