GOTHENBURG, Sweden (July 17)—SKF Group's seals division suffered a 52.8-percent drop in operating profits for the six months ended June 30, as North American sales volume was "considerably" lower in the second quarter. Overall, SKF's seals division—primarily consisting of Chicago Rawhide—reported slight gains in overall sales, up 1.7 percent to $267 million, and external sales, up 1.6 percent to $228 million. Operating profits fell to $4.6 million, or 1.7 percent of sales. Overall, SKF has scheduled lower production volumes for most of its businesses in the third quarter to reflect sagging market demand.
SKF results drop for half
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].