(Reuters) – Swedish bearings maker SKF said on Thursday it was reviewing the ownership of its aerospace business, confirming earlier reports.
“CEO Rickard Gustafson will announce that the Group is conducting a strategic review of its Aerospace business, considering ongoing consolidation in the industry,” SKF said in a statement ahead of its capital markets day.
Bloomberg News reported on Tuesday that a potential sale had been prompted by calls for a change from its second largest owner, activist investor Cevian Capital.
SKF’s aerospace business accounts for around 5% of group sales, according to brokerage Berenberg.
(This story has been corrected to fix the spelling of ‘Aerospace’ in the headline)
(Reporting by Marie Mannes and Terje Solsvik, editing by Anna Ringstrom)
