SKF
SKF,
Svenska Kullagerfabriken AB, later
AB SKF, is a
Swedish aeroengine bearings company founded in
1907, supplying bearings,
seals, spindles, customer solutions and related services globally.
The company, founded on
Sven Wingquist's 1907
patent of the self-aligning
ball bearing was successful from the outset. By
1910, 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. Assar Gabrielsson, an SKF sales manager, was one of the two founders of
Volvo. SKF funded the production run of the first thousand cars, built at
Lundby, near
Gothenburg, beginning in 1927. SKF also allowed the partners to use one of the company's trademarked names: AB Volvo, which derives from the
Latin "I roll", with its obvious connotations of bearings in action.
Today, the company employs approximately 40,000 people worldwide in around 100 manufacturing sites that span 70 countries [
1].
Turnover for
FY2005 was
SEK49,285 million, and total assets were SEK40,349 million. The SKF Group currently consists of approximately 150 companies including the seal manufacturer
Chicago Rawhide. Since its founding, SKF's company headquarters have been located in
Gothenburg. One recent acquisition was that of
Salzer Holding, an
Austria-based seals company.
The company's clients include
Rolls-Royce plc and
Pratt and Whitney. It also supplies bearings for
Ferrari racing vehicles, used in
Formula One races [
2], and is a
sponsor of F1.
SKF employs a
Six Sigma business approach.
See also: List of Swedish companies*
SKF - Official site
