SKF Outsources Financial Services

SKF has decided to outsource its transactional handling within the financial area to Capgemini. As from January 1, 2007, the different transactional handling activities within accounts payable, accounts receivable and general ledger, within SKF's major European operations, will step by step be transferred to Capgemini. The transfer will be finished by midyear 2007. For SKF it means that close to 100 staff positions within Finance will disappear from the Group during this period of time. SKF is driving a change program within its finance operations that is aiming for a world class finance organization. This decision is in line with this program and SKF¡¯s target to lower operating costs, improve productivity and focus on the core business