The promoter of SKF India, AB SKF, said on September 17 it plans to separate its global automotive business and list it on Nasdaq Stockholm.
SKF India will be setting up a committee to review and place appropriate proposals before the Board.
The promoter said it intends to list the automotive business on Nasdaq Stockholm in the first half of 2026.
Hans Straberg, Chair of SKF Board of Directors said, “Both businesses are global leaders in their respective fields and will through a clearer focus increase customer value and leverage on their strategies as standalone companies. The Board of Directors and Management therefore believe that long-term value can be created by splitting the Group into two separate companies, benefiting customers, employees and shareholders.”
A separation would increase the ability of the automotive business to make independent decisions and investments, the statement added.
Rickard Gustafson, President and CEO of AB SKF said the decision will allow the automotive business 'strategic flexibility'. "We need to take bold decisions to unlock additional long-term profitable growth opportunities. Initiating a separation of the Automotive business is one of those decisions," he added.
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