SKF Consolidates Product Development, Proposes To Cease Activities in Scotland

GOTHENBURG,Sweden,Jan. 24,2020 --In order to speed up the development of cloud-based condition monitoring technologies,SKF is consolidating its development footprint in Europe. Consequently,and subject to consultation with local employee representatives,SKF proposes to cease its development and supply chain activities in Livingston,Scotland.

The Group will now enter into a period of consultation with employee representatives. Should the proposal be confirmed,the development and supply chain activities in Livingston will cease by December 2021.

Development of these technologies will be consolidated to existing sites in Sweden and France.

The development center in Livingston currently employs approximately 50 people.

Aktiebolaget SKF

(publ)

For further information,please contact:

PRESS: Theo Kjellberg,Director,Press Relations

tel: 46 31337 6576,mobile: 46-725-776576,e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg,Head of Investor Relations

Patrik Stenberg,46-31-337-2104; 46-705-472-104; patrik.stenberg@skf.com

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