STOCKHOLM — SKF AB on Thursday backed its guidance and said it is conducting a strategic review of its aerospace unit.
In a statement ahead of its investor day, the Swedish ball-bearing maker said the review of its aerospace business comes amid continuing consolidation in the industry.
Its aerospace business manufactures components such as bearings, sensors, seals and rods for aircraft turbines, air frames, wings and landing gear. The unit makes up around 5% of group sales, equal to 1.22 billion Swedish kronor ($117.5 million) in the third quarter of 2022.
The company confirmed that it still expects fourth-quarter organic sales growth of about 10% and full-year organic growth at the upper end of its 4%-8% guided range.