SKF Group Sales Grow 8% in 1Q

SKF Group Sales Grow 8% in 1Q SKF reported sales of SEK 14,371 million (US$2.131 billion) in the first quarter 2007, up 8.1%. Profit was up by 4.9%. SKF reported that sales were significantly higher in Europe and Asia. Sales in North America were relatively unchanged and sales in Latin America were higher. The market demand for SKF's products and services in the second quarter of 2007 is expected to be higher. The demand is expected to be higher in Europe and Latin America, significantly higher in Asia and relatively unchanged in North America. The demand is expected to be higher in the Industrial and Service Division and slightly higher in the Automotive Division.