GOTHENBURG, Sweden--(BUSINESS WIRE)--The purpose of SKF’s (STO:SKFA)(STO:SKFB)(Pink Sheets:SKFRY)(LSE:SKFB) Capital Markets Day was to provide an opportunity for a deeper understanding of the SKF business. This was done in an interactive way in small groups, with displays, exhibits, and tours. All SKF executive management were present, as well as business unit managers from selected industries.
Today and tomorrow
Tom Johnstone, President and CEO of SKF talked about SKF’s key elements to achieve profitable growth, investments in IT systems, cost reductions and gave examples of success in sourcing.
He said, “It was great to see such a strong interest in SKF at the Capital Market Day. We took the opportunity to show in more detail how we are driving our priorities across the Group and the steps we are taking to operate in line with our financial targets. There were a lot of good questions and discussions during the day and I want to thank everyone for making it such an interesting day.”
Benefiting from SKF’s life cycle approach
SKF presented various examples of how customers benefit from its life cycle management approach. In response to the user’s requirement for frequent, costly re-lubrication, SKF developed a new type of bearing that allows lubrication-free 24/7 operation for five years. This solution makes the operation more sustainable and reliable. The SKF life cycle approach made it possible to involve the OEM manufacturer of the oven that today has this solution implemented as a standard.
Delivering value with energy efficient products and solutions
Energy energy efficiency was a main topic and many examples from the SKF BeyondZero portfolio were presented:
· The SKF Low Friction Hub Bearing Unit can reduce 4400 tonnes of CO2 per year if one million cars were equipped with the SKF solution instead of with a standard solution.
· A tire pressure monitoring system for trucks and trailers that keeps a constant correct pressure and reduces CO2 emissions, provides fuel savings of up to 2%, as well as reduces downtime due to tire problems by around 40%.
· SKF’s magnetic system solutions for aeration blowers can reduce energy use by up to 40%. This brings value to customers in the wastewater industry as an aeration blower system can demand as much as 80% of the plant’s total energy consumption.
· SKF bearings for extreme temperatures can withstand temperatures up 350° C, without need for re-lubrication. This allows for substantial reductions in maintenance cost, as well as CO2 emissions. For example, a cooling bed for sheet metal, equipped with 5000 bearings can save 7.5 tonnes of grease and 23 tonnes of CO2 per year, which is equivalent to an 82% reduction of the climate impact, compared to using grease-lubricated deep groove ball bearings.
Staying ahead in technological leadership
SKF’s strong focus on technological leadership was demonstrated through various solutions displayed during the day. Among the most recently launched was the new sensor solution called SKF Insight™. This self-powered solution can wirelessly communicate information about the condition of the bearing via the SKF network of Remote Diagnostic Centres. For customers this means even higher reliability and reduced downtime and costs.
Strengthening our ability to support customers
SKF explained how its strong global presence, incorporating a network of SKF Authorized Distributors, SKF Solution Factory locations, warehouses, Remote Diagnostic Centres, Condition Monitoring Centres and marine industry locations, connects the company with customers all over the world. Discussions involved how process integration activities, such as new approaches to inventory management and collaborative forecasting, help SKF and its Authorized Distributors to achieve a more efficient supply chain.
SKF has further improved its presence in faster growing markets through the new Global technical centres and new manufacturing sites. For example, 45% of SKF Automotive’s manufacturing footprint is based in and expanding in faster growing regions. An example of this is the new factory in China for SKF Split Truck Hub Units. Another example is SKF’s business unit Vehicle Service Market that has significantly increased flexibility and increased capacity in packaging centres.
Lean manufacturing supported by the methodology for Business Excellence has been of help to down costs and reduce capital. For example, after introducing Business Excellence in SKF’s factory in Guadalajara, Mexico, inventories were reduced by 3%.
The entire day was filmed and will be available on in around a week: http://investors.skf.com/en
Aktiebolaget SKF (publ)
SKF is a leading global supplier of bearings (http://www.skf.com/portal/skf/home/products?contentId=876709&lang=en), seals (http://www.skf.com/portal/skf/home/products?contentId=238358&lang=en), mechatronics (http://www.skf.com/portal/skf/home/products?contentId=447144&lang=en), lubrication systems (http://www.skf.com/portal/skf_lub?lang=en), and services (http://www.skf.com/portal/skf_lub/home/services?contentId=867934&lang=en) which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2012 were SEK 64,575 million and the number of employees was 46,775. www.skf.com
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™ BeyondZero is a trademark of the SKF Group.
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