SKF Nine-month report 2012
Tom Johnstone, President and CEO:“The macro economic development and increasing uncertainty which was evident during the last few months has clearly influenced our business. Our sales weakened as we went through the quarter and this was mainly seen in many of our industrial markets as well as in the European and particularly in the Asian region. We took additional steps to reduce our production to both meet this lower demand and to reduce our inventories. With the background of the challenging market environment the Group delivered a very good performance and particularly a very strong cash