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1 revision imported: Mitul Imported from Wikipedia

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{{short description|World's largest bearing manufacturer}}
{{other uses}}
{{EngvarB|date=February 2019}}
{{Infobox company
| logo = SKF logo.svg
| image = Gotaholm.png
| image_caption = Headquarters of SKF in [[Gothenburg]], [[Sweden]] (2020)
| logo_size = 235px
| logo_caption =
| name = AB SKF
| industry = [[Manufacturing]]
| type = [[Public company|Publicly traded]] [[Aktiebolag]]
| traded_as = {{OMX|SSE285|SKF B}}
| ISIN = SE0000108201 <ref>http://www.nasdaqomxnordic.com/shares/microsite?Instrument=SSE284</ref>
| ISIN2 = SE0000108227 <ref>http://www.nasdaqomxnordic.com/shares/microsite?Instrument=SSE285</ref>
| foundation = {{start date and age|df=yes|1907}}
| founder = [[Sven Gustaf Wingqvist|Sven Wingqvist]]
| location = [[Gothenburg]], Sweden
| area_served = Worldwide
| products = {{unbulleted list|[[rolling-element bearing|Bearings]]|[[Seal (mechanical)|Seal]]s|Lubrication systems|Maintenance products|[[Condition Monitoring]]|[[Grease (lubricant)|Grease]]}}
| key_people = [[Hans Stråberg]] ([[Chairman]]) Alrik Danielson (President & [[Chief executive officer|CEO]])
| revenue = {{increase}} {{SEK|86.013 billion|link=yes}} (2019)<ref name="AR2019">{{cite web |url=https://investors.skf.com/sites/default/files/pr/202003043062-2.pdf |format=PDF |title=Annual Report 2019 |publisher=SKF}}</ref>
| operating_income = {{increase}} {{SEK|9.395 billion}} (2019)<ref name="AR2019"/>
| net_income = {{increase}} {{SEK|5.792 billion}} (2019)<ref name="AR2019"/>
| assets = {{increase}} {{SEK|94.108 billion}} (2019)<ref name="AR2019"/>
| equity = {{increase}} {{SEK|37.366 billion}} (2019)<ref name="AR2019"/>
| num_employees = 43,360 (2019)<ref name="AR2019"/>
| owner = [[Foundation Asset Management AB|FAM AB]] (13.6%; 29.2% votes)<ref name="AR2016">{{cite web |url=http://www.skf.com/irassets/afw/files/press/skf/201703078224-1.pdf |format=PDF |pages=9, 16, 55, 66, 68, 102 |title=Annual Report 2016 |publisher=SKF}}</ref>
| subsid = {{unbulleted list|GLOi|Kaydon Corporation|Blohm + Voss Industries|General Bearing Corp.|Alemite|Lincoln|Reelcraft|+150 other}}
| homepage = {{URL|skf.com}}
}}
'''AB SKF''' (Swedish: '''''Svenska Kullagerfabriken'''''; 'Swedish [[Ball bearing|Ball Bearing]] Factory') is a Swedish [[bearing (mechanical)|bearing]] and [[seal (mechanical)|seal]] manufacturing company founded in [[Gothenburg]], [[Sweden]], in 1907. The company manufactures and supplies bearings, seals, lubrication and lubrication systems, maintenance products, [[mechatronics]] products, power transmission products, condition monitoring systems and related services globally.<ref name="AR2016"/>

SKF is the world's largest bearing manufacturer,<ref name="bearings_market">{{cite web|url=http://www.skf.com/group/investors/bearings-market|title=Bearings|website=SKF|access-date=2 October 2017}}</ref> and employs 44,000 people in 108 manufacturing units. It has the largest industrial distributor network in the industry, with 17,000 distributor locations encompassing 130 countries.<ref name="AR2016"/> SKF is one of the largest companies in Sweden and among the largest public companies in the world.<ref name="forbes_2000">{{cite web|url=https://www.forbes.com/companies/skf-group/|title=SKF Group on the Forbes Global 2000 List|website=Forbes.com|access-date=2 October 2017}}</ref>

==History==
[[File:Sven Wingquist 1926.jpg|thumb|<center>[[Sven Gustaf Wingqvist|Sven Wingqvist]], one of the founders of SKF</center>]]
[[File:News. Red Cross Restaurant BAnQ P48S1P05587.jpg|thumb|left|SKF office in [[Montreal, Quebec]], Canada in 1940]]
[[Image:Ball bearing self aligning.gif|frame|SKF self-aligning ball bearing]]
[[Sven Gustaf Wingqvist|Sven Wingqvist]], at the time a thirty-year-old plant engineer responsible for repairs and maintenance at Gamlestadens Fabriker, was dissatisfied with the performance of the ball bearings then in use. These were rigid ball bearings, imported from [[Germany]], and if the long shafts on the machinery in a textile mill were the least bit misaligned, the ball bearings would become overheated and break down, bringing production to a costly halt. In spring 1907, Wingquist presented a breakthrough: a double row self-aligning ball bearing with a spherical raceway in the outer ring, shared by both rows of balls. This allowed the inner ring to align freely in relation to the outer ring, with no negative impact on the function of the bearing. The new bearing solved the problem associated with misalignment of the shafts and thus did away with the frequent production stops. Self-alignment was particularly useful in the less-than-perfect machinery of the times and in buildings with subsidence problems, which was the case at Gamlestadens Fabriker, since much of the land on which Gothenburg has been built is clay.{{citation needed|date=August 2020}}

On 16 February 1907, Wingqvist applied for Swedish [[patent]] No. 25406, a multi-row self-aligning radial [[ball bearing]]. The Patent was granted on 6 June in Sweden coinciding with patents in 10 other countries. The new ball bearing was successful from the outset. Three years after SKF was founded, the company had 325 employees and a subsidiary in the [[United Kingdom]]. Manufacturing operations were later established in multiple countries.

By 1912, SKF was represented in 32 countries and by 1930, a staff of over 21,000 were employed in 12 [[manufacturing]] facilities worldwide with the largest in [[Philadelphia]], United States.

SKF began its operations in [[India]] in 1923 by establishing a trading outpost in [[Calcutta]]. The early operations involved the importing of automotive bearings. SKF India Ltd was incorporated in 1961 following a collaboration between AB SKF, Associated Bearing Co. Ltd and Investment Corp. of India Ltd. In 1963, SKF set up its first bearing factory in [[Pune]], Maharashtra.<ref name="livemint.com">{{cite web|url=http://www.livemint.com/Industry/HIXqvf8wM848UX9RBAQ0xK/SKF-and-the-business-of-movement.html|title=SKF and the business of movement|first=Ashish K.|last=Mishra|date=11 November 2014|website=Livemint.com|access-date=2 October 2017}}</ref>

[[Assar Gabrielsson]], SKF sales manager, and [[Björn Prytz]], Managing Director of SKF were the founders of [[Volvo]] AB in 1926. In the beginning, the company functioned as a subsidiary automobile company within the SKF group. SKF funded the production run of the first thousand cars, built at [[Hisingen]] in [[Gothenburg]], beginning in 1927. SKF used one of the company's trademarked names: AB Volvo, which derives from the Latin "I roll", with its obvious connotations of bearings in motion. The ownership of Volvo lasted until 1935 when the last shares were divested.

In the 1970s SKF embarked on a massive production rationalisation program in Europe. A visionary project, "Production Concept for the 80s" was launched with the aim to run the night shifts practically unmanned. To increase productivity and safeguard the product quality, a continuous, automatic flow of bearing rings was needed, so SKF developed the [[Flexlink]] brand. FlexLink created the multiflex plastic chain conveyor system to solve the business requirements. SKF divested FlexLink as a separate company in 1997.

==Present day business==
[[Image: SKF building Schweinfurt 2012.jpg|thumb|right|200px|SKF building in [[Schweinfurt]], Germany (2012).]]
[[Image:SKF i Göteborg, den 16 aug 2006, bild 25.JPG|thumb|right|200px|SKF in Gothenburg.]]
The SKF Group currently consists of approximately 150 companies including the [[seal (mechanical)|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, [[Taiwan]]ese manufacturers of [[linear actuator]]s. The company's clients include [[General Electric]], [[Rolls-Royce Group PLC|Rolls-Royce plc]] and [[Pratt & Whitney]]. It also supplies bearings for [[Ferrari]] [[racing]] vehicles, used in [[Formula One]] races,<ref>{{cite web|url=http://www.logisticsit.com/absolutenm/templates/article-forecasting.aspx?articleid=2060&zoneid=3|title=Demand Forecasting - Forecasting, Demand Forecasting & Planning, S&OP, CPFR - Manufacturing & Logistics IT Magazine|website=Logisticsit.com|access-date=2 October 2017}}</ref> and is a [[sponsor (commercial)|sponsor]] of F1. Then SKF became sponsor of [[Team Penske]] in [[Monster Energy NASCAR Cup Series]] since 2012, Then in 2017 SKF became as [[Brad Keselowski]] sponsor in #2 [[Ford Fusion (Americas)|Ford Fusion]] and #22 [[Ford Mustang]] in [[Xfinity Series]], Previously, it is Sponsor of [[Richard Childress Racing]], and [[Roush Fenway Racing]], SKF is Sponsor of [[Ducati]] in [[MotoGP]] since 2015. Another focus area is the energy sector, including wind turbines which generate electricity.

By 2011, SKF Industrial Market, Regional Sales and Services, made up about 40% of SKF's total sales.<ref>{{Cite news|date=3 October 2013|title=SAMA Adds New Board Member|newspaper=PR Newswire (via Yahoo News)|url=https://news.yahoo.com/sama-adds-board-member-182500387.html|archive-url=https://web.archive.org/web/20131003194806/http://news.yahoo.com/sama-adds-board-member-182500387.html|archive-date=3 October 2013|url-status=live}}</ref>

SKF employs 3,000 people across six factories in [[India]] and has 27% market share of the industrial and automotive bearings market.<ref name="livemint.com"/>

2016 SKF had a total net sales of 72,787 SEKm.<ref name="AR2016"/>

===Products===
SKF sells products within five technology platforms:
* Bearings and Units
* Mechatronics
* [[Automatic lubrication system|Lubrication Systems]]
* Services
* Seals

==Business excellence==
SKF runs its own business excellence program for continuous improvement (Kaizen) of its [[business process]]es in all parts of the company. The program is based on previous initiatives like [[Total quality management|TQM]] and integrates with [[lean management]] also statistical methods of [[Six Sigma]] along with related [[project management]].<ref>{{cite web|url=http://sandholm.se/pdf/Lean%20&%20Sex%20Sigma%202011/Business_Excellence_in_SKF_Tom_Johnstone.pdf|title=Business Excellence in SKF|access-date=2011-06-18|publisher=sandholm.se|url-status=dead|archive-url=https://web.archive.org/web/20110826161410/http://sandholm.se/pdf/Lean%20%26%20Sex%20Sigma%202011/Business_Excellence_in_SKF_Tom_Johnstone.pdf|archive-date=2011-08-26}} (Presented by Tom Johnstone during the [http://www.mynewsdesk.com/se/view/pressrelease/sveriges-och-vaerldens-fraemsta-inom-kvalitet-och-effektivitet-moets-paa-unik-konferens-635800 Lean & Six Sigma 2011] conference in Stockholm)</ref> Many elements of this SKF program remind of the integrated approach of the actual [[EFQM]] model for Business Excellence.

The Group has a global certification to IS0 14001 (environmental management system), ISO 50001 (energy management) and OHSAS 18001 (health and safety) standards. Its operations are also certified to either ISO 9001 or applicable customer industry standards, e.g. ISO/TS 16949 (automotive), AS9100 (aviation), or IRIS (railway) for quality management systems.

==See also==
{{Portal|Companies}}
*[[List of Swedish companies]]

==Company history references==
* Fritz, Martin and Karlsson, Birgit (2006). ''SKF: A Global Story, 1907-2007''. {{ISBN|978-91-7736-576-1}}
* Steckzén, Birger (1957). ''SKF: The History of a Swedish Export Industry, 1907-1957''. {{in lang|sv}}

==References==
{{Reflist}}

==External links==
{{Commons}}
*official website [http://www.skf.com/ SKF Group]
*official website [https://www.vsm.skf.com/uk/en SKF Vehicle aftermarket]
*official website [https://skfbearings.in/]
*[https://www.skf.com/africa/en/industries/mining-mineral-processing-cement/products-solutions/skf-explorer-spherical-roller-bearings?gclid=CjwKCAjwltH3BRB6EiwAhj0IUAQBb3GDGtOBLVMRIxSA9_06IFlW-CBVaMNPZeysgF1_pjHoTyd4BBoCzGsQAvD_BwE SKF Bearings]
* {{PM20|FID=co/020501|TEXT=Documents and clippings about|NAME=}}

{{OMX Stockholm 30 companies}}

{{Authority control}}

[[Category:Manufacturing companies established in 1907]]
[[Category:Multinational companies headquartered in Sweden]]
[[Category:Companies formerly listed on the London Stock Exchange]]
[[Category:Companies related to the Wallenberg family]]
[[Category:Hisingen]]
[[Category:1907 establishments in Sweden]]
[[Category:Swedish brands]]
[[Category:Companies listed on Nasdaq Stockholm]]
[[Category:Manufacturing companies based in Gothenburg]]
[[Category:Bearing manufacturers]]
[[Category:Seals (mechanical)]]

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setup>MahaNakhon at 08:15, 1 April 2021