Gteborg, Sweden — March 15, 2002 — SKF has sold its premises in Stuttgart, Germany, which used to be the site for its textile machinery business.
The profit from the sale has been set aside to finance restructuring measures during the year. The sale is part of the SKF Group’s programme to reduce the amount of capital tied up in operations.
The premises consist of office, industrial and warehouse space totalling 57 000 sq m. The buyer is DIBAG Industriebau AG, Mnchen, and the sale price amounted to 97 million Swedish kronor.
By Bill Roebuck, Editor