The acquisition is also in-line with our ambition to develop and offer solutions that help customers reduce the environmental impact of their own operations.
SKF has always been at the forefront of developing new methods for calculating bearing life. GBLM is a giant leap for bearing science and will enable better choices to be made when selecting bearings for a wide variety of applications.
Through this investment we will increase our competitiveness in Asia.
We are deploying one of the worlds most advanced, flexible and fully automated assembly lines of its kind in Bari.
Demand in the first quarter developed in line with our expectations. Net sales reached SEK 21.3 billion and organic sales were relatively unchanged compared to last year. Operating profit, at SEK 2.7 billion, was strong.
We combined our specialist industrial knowledge with digital expertise from leading partners and customers. The result is a solution that reveals parts of a machine’s performance that were previously in the shadows, using the power of light alone
2018 was an excellent year for SKF, with record results and a significantly strengthened balance sheet.
The new logistics centre has been designed with the ambition of achieving a high LEED rating, showing our continued commitment to reducing the environmental impact of our operations.
Having successfully developed this as a stand-alone entity, it will now have an ownership structure that is able to invest in its continued development. The transaction also represents value for us and our shareholders by strengthening our balance sheet and focusing our product portfolio.
Our record start to 2018 has continued. Sales grew by 9% organically, to SEK 22.6 billion and our operating profit was SEK 2,925 million.
It’s a win-win where SKF helps us with their resources, and we come as close as possible to trouble-free operation.
Fiber optic sensing technology is an exciting opportunity, as it enables bearings to become process and quality control instruments. We have worked for some time to develop these sensors and by taking the next step together, we will be able to speed up the process of integrating these into customer applications.
Wheelset bearings are critical components for any rolling stock operator. Together with SKF we seek to move the industry toward the objective of one hundred-percent availability with safe, efficient service.
With Railigent, Siemens offers a powerful platform for a multitude of digital services. In particular, the system simplifies data access, enabling operators to gather essential data about the condition of their rolling stock components from a single access point.
Using accurate data to drive decision-making and avoid repeat issues is good for our clients and for the industry as a whole. Ultimately, this helps drive out waste and increases reliability
Recently, our technology was able to detect the underlying cause of bearing vibration and provide recommendations to prevent failure of a critical motor. Our data analytics software can even propose alternative solutions that would be longer-lasting and better suited to the conditions.”
“Our SKF bearings are designed to meet robust FCA performance requirements and contribute to an efficient, comfortable and smooth driving experience.”
The new service allows machine tuning to be conducted by an OEM from their own site, with their own technicians and without SKF’s physical presence
Fortunately, we have done fairly well in avoiding major breakdowns. It is very costly if something happens, so we want to prevent the risks as much as we can
“This team effort enabled us to meet our customer’s expectations for reliability, robustness, ease of maintenance and parts replacement; it also helps us to achieve one of our own corporate goals - that of delivering sustainable energy at a competitive price.”
“The SR2000 has met, and in many instances exceeded, our expectations and, combined with the fact that this is the world’s most powerful operating tidal turbine, it means we’re making a material contribution to the generation mix in Orkney with just this single unit.”
No other test center is capable of testing large-size bearings this accurately, under actual operating conditions, giving us and our customers a significant strategic advantage.
Imagine having access to an SKF application engineer or service technician on-demand, in real-time. If you are in a paper or steel mill close to an SKF Solution Factory, that’s not a problem. But the majority of our customers are based in remote locations. Our goal is to give them the same – or even better – access to our expertise, on-demand.
The total operating life of the bearings is important, but to reduce cost of ownership, the period between maintenance operations can be even more significant
These new programmes from SKF are designed to our bearing customers to deliver every facet of a well planned maintenance strategy with expert guidance available at every stage of the process
In today’s environment, we can no longer work in fixed production sequences, we want to take the real-time demand from the customer and produce those specific products in the volume batch required
The biggest challenge when using data to smarten up your equipment maintenance routines, is getting that data in the first place. The QuickCollect sensor and apps make this task not only easier but also cheaper than ever before. This entry-level machine monitoring system doesn’t require lots of training or skilled vibration analysts; it gives you on-the-spot indication of machine health, automated diagnostics, plus the ability to connect to expert help when problems are identified.
The creation of this European Centre will allow us to respond even faster to meet the expectations and needs of our customers in Europe, the Middle East and Africa, and ensure that we can respond quickly to developments within those markets. At Saint-Cyr-sur-Loire we have now concentrated unrivalled levels of expertise and competence in the automotive aftermarket segment.
The number of potential data collection points in a modern factory is increasing exponentially, but this data will only generate value for operators if it is analysed and acted upon to improve a machine’s performance and profitability. Our collaboration with Honeywell will make this possible.
Leveraging the IIoT gives manufacturers real-time access to operating information from an incrementally larger data-set across not only one site or plant, but across an entire enterprise. By creating an ecosystem of software and hardware manufacturers with unmatched domain experience, we will be able to better understand the risks and demands on the operating units and ultimately provide a higher level outcome for our customers.
The number of potential data collection points in a modern factory is increasing exponentially, but this data will only generate value for operators if it is analysed and acted upon to improve a machine’s performance and profitability.
We are honoured to receive this award and are thrilled to see that our efforts to provide an outstanding service throughout, from application design and specification support to the successful and rapid delivery of exceptional products, are helping TSA to grow its business. In particular, we are pleased to have been instrumental from the very start of TSA’s pioneering work in adopting the use of hybrid bearings to overcome the problems caused by electricity in railway applications and are proud to have helped the firm lead where others are now following.
SKF has been involved in our key projects from conception to fulfilment, and has provided exceptional technical expertise and high performance bearings solutions worthy of the Best Supplier of the Year title. The company has worked with us to offer excellent development assistance, customer support, cost effective products and fast turnaround times and we will continue to build on this relationship to consistently deliver a top rate service to our customers throughout the rail industry.
Enlight Centre is unlike anything else on market. Easy to use and easily tailored to match the user's specific requirements, it serves the capabilities of personnel on every level - from chief engineer to equipment operator, and offers a great way to teach 'work optimisation' techniques to less experienced staff.
Gothia Cup is our largest corporate sponsorship initiative and we are incredibly proud to continue our relationship over the next three years. Gothia Cup represents teamwork, responsibility, equal opportunities and a commitment to the world’s youth. Through this partnership and our “Meet the World” tournaments, SKF and our staff around the world will continue to provide help and support the development of young people’s interests in football. Brining these youngsters together in our beautiful home city of Gothenburg is also fantastic to be involved in
It’s the teams and participants from around the world that make the Gothia Cup a unique meeting place for the world’s youth, irrespective of religion, skin color or nationality, with football as the common denominator. The partnership with SKF gives us a secure financial base, to ensure that we can continue to provide young people throughout the world a meeting point and a positive experience
SKF has helped a shipping customer introduce condition monitoring to its vessel, with plans to extend it further across the fleet
Customer feedback confirms many applications require less than the 16 channels offered by our existing Multilog IMx solutions. The IMx-8 now offers a more compact, versatile means of monitoring rotating machinery and this cost effective, reduced channel online system fills a large gap in the market, offering new features, functionality and flexibility not available anywhere else
The SKF ConRo units have helped us to cut unplanned down-time and reduce production costs. The availability of the remanufacturing program has extended those benefits, allowing us further reduce the overall operating cost of our machine.
We are very happy that this case is officially closed and has resulted in a positive outcome for SKF and our customers. We will continue to fight the problem of counterfeit products and importers in Greece. This is vital for us in order to protect our customers and their business as well as the reputation of the SKF brand
Counterfeit industrial products like bearings are not bought intentionally by customers, so the best way to fight counterfeit is to raise awareness. Customers who accidentally purchase counterfeit products are being cheated financially and risk damage to their machinery and expensive downtime
SKF has a clear and dedicated focus to support GM’s vision to earn customers for life. As a strategic partner with GM, we are proud to contribute to this highest level of engineering and performance in the advanced chassis of the Cadillac CT6.
“This contract shows we have earned the confidence of turbomachinery manufacturers and end-users alike in highly-competitive markets such as China. We look forward to continuing our collaboration with Cryostar, together we have successfully completed over hundred projects all over the world”
“Cryostar is very proud to have been selected for the supply of the turbo-expander/compressor package for the first project of this type. It shows the confidence that the different parties involved in this plant have in the association of Cryostar and SKF.”
Scania and SKF have a long history of collaboration and putting the drivers’ needs in focus.
We are able to provide Rolls-Royce with the long-term capacity, security of supply and commitment to invest in product development that meet their needs.
The renewal of such a significant contract is an illustration of our ability to generate value for original equipment manufacturers by offering solutions that contribute to an overall improved life-cycle cost efficiency.
This is a significant step in our efforts to focus on our core bearing business, a process which has been on-going for the past 12 months.
Our commitment to adopting a design-to-cost approach in our product development also supports Valmet in maximising the efficiency of their own investments in technology development.
We recognize our responsibility to significantly improve energy performance, which is motivated both from an environmental and a cost perspective. The new ISO 50001 standard helps us to address this in a structured, systematic and consistent way.