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The financial crisis lower SKF can have to reduce

29th November 2009 Bearing Technology 0 Comments

Under global financial crisis sweep across, lead to the fact very much loud impact to manufacturing and car trade.

Fail to escape by luck under this financial storm too as the main car spare part supplier SKF bearing, demand for the high-quality bearing that the reducing of industrial market demand reacts at first.

Deal with financial crisis, SKF adopt reduce can produce, deal with the strategic plan too. Include cutting down 2500 people in the whole world.

The group has already begun to drop in production in order to meet lower market demand level in the third quarter. Will continue dropping in production this quarter. In a lot of factory, produce, reduce obviously overtime, reduce casual labour, implement elastic working way include time certificate and short the intersection of man-hour and work system in an all-round way. Will reduce 1300 casual labours. At the end in the quarter, about 2400 workers will implement the man-hour work system short, will mainly concentrate on Europe.

With compared with last year,group is whole fourth quarters for demand let’s reduce about 15%. Price on through taking measures, it is in addition, positive /make up and influence at positive money flow, it is expected the operation profit in the fourth quarter, before recombinating and reducing value, about 1,600 million – 1,700 million Swedish Krones. The cost of recombinating and reducing value is about 470 million Swedish Krones. Will pay 340 million Swedish Krones in the fourth quarter, among them 250 million kronas come from the car portion. Nearly it is worth 90 million Swedish Krones to reduce remembering and reduce, this will not influence the future cash flow. The annual income that should move is about 250 million Swedish Krones, will finish at the beginning of of 2010. SKF financial net income in the fourth quarter reduce about 170 million Swedish Krones, because SKF has 2009 of about 100 million dollars the cash flow of U.S. dollar will hedge and will be confirmed as the economic situation and will hedge, and will charge to an account immediately.

As stated above, SKF and person who reduce adjust, it produces to be can so as to meet new market situation wholly in fourth quarter through recombinate. This will mainly influence the operation of Europe and American Company, will cut down 1200 in the whole world at the same time, mainly concentrate on the car portion. The country influenced by it mainly has U.S.A., France, Italy, Ukraine, Brazil and Argentina.

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