GBAF Logo
Finance

SKF sells non-core aerospace business in the U.S. to Carco PRP

Published by Global Banking & Finance Review

Posted on August 18, 2025

1 min read

· Last updated: January 22, 2026

Add as preferred source on Google
SKF sells non-core aerospace business in the U.S. to Carco PRP
divestments corporate strategy financial management business services
Global Banking & Finance Awards 2026 — Call for Entries

STOCKHOLM (Reuters) -Swedish bearings maker SKF said on Monday it had agreed to sell its non-core aerospace operation in Elgin in the U.S. to Carco PRP Group for a total estimated enterprise value of

SKF Divests Non-Core Aerospace Unit in Elgin, U.S. to Carco PRP

SKF's Strategic Business Shift

STOCKHOLM (Reuters) -Swedish bearings maker SKF said on Monday it had agreed to sell its non-core aerospace operation in Elgin in the U.S. to Carco PRP Group for a total estimated enterprise value of $70 million.

Details of the Sale

SKF said in a statement the sale of the precision elastomeric device (PED) operation is part a strategy to focus on its core aerospace areas and exit non-strategic business lines.

Focus on Core Operations

(Reporting by Anna Ringstrom, editing by Louise Rasmussen)

Key Takeaways

  • SKF sells its non-core aerospace business in Elgin, U.S.
  • The sale is valued at an estimated $70 million.
  • Carco PRP Group is the buyer of the aerospace unit.
  • The divestment aligns with SKF's strategic focus on core areas.
  • The operation sold is the precision elastomeric device unit.

Frequently Asked Questions

What is divestment?
Divestment is the process of selling off a subsidiary or business unit, often to focus on core operations or improve financial performance.
What is corporate strategy?
Corporate strategy refers to the overarching plan and direction of a company, outlining how it will achieve its goals and enhance its competitive position.
What is the aerospace industry?
The aerospace industry encompasses the development and production of aircraft, spacecraft, and related systems and equipment, serving both commercial and military sectors.
What are business services?
Business services are activities that support a company's operations, such as consulting, management, and financial services, aimed at enhancing efficiency and productivity.

Tags

Related Articles

Image for Trump tells Fox News Iran can call US if it wants to negotiate

Trump tells Fox News Iran can call US if it wants to negotiate

Image for Australia's Wong to visit Japan, China, South Korea to discuss energy security

Australia's Wong to visit Japan, China, South Korea to discuss energy security

Image for Hungary's Magyar to meet EU's von der ​Leyen for talks on EU funds this week

Hungary's Magyar to meet EU's von der ​Leyen for talks on EU funds this week

Image for Switzerland angers Italy by claiming costs of treating Crans-Montana fire victims

Switzerland angers Italy by claiming costs of treating Crans-Montana fire victims

Image for Russian defence minister visits North Korea

Russian defence minister visits North Korea

Image for Fertiliser plant in Russia's Vologda region damaged in Ukrainian drone attack, governor says

Fertiliser plant in Russia's Vologda region damaged in Ukrainian drone attack, governor says

More from Finance

Explore more articles in the Finance category

Image for Close Brothers will not take legal action against Britain's car finance redress scheme, Sky News reports
Close Brothers will not take legal action against Britain's car finance redress scheme, Sky News reports
Image for Germany's far-right AfD rises to record 28%, INSA poll shows
Germany's far-right AfD rises to record 28%, INSA poll shows
Image for German government suspects Russia of Signal attack targeting politicians, sources say
German government suspects Russia of Signal attack targeting politicians, sources say
Image for Romania finds parts of second drone after overnight Russian attack on Ukraine
Romania finds parts of second drone after overnight Russian attack on Ukraine
Image for China condemns EU's inclusion of Chinese entities in sanctions package against Russia
China condemns EU's inclusion of Chinese entities in sanctions package against Russia
Image for Russian parliament speaker in North Korea to mark Pyongyang's troop deployment in Ukraine war
Russian parliament speaker in North Korea to mark Pyongyang's troop deployment in Ukraine war
Image for Macron reaffirms efforts to reopen Strait of Hormuz, as TotalEnergies warns of energy shortages
Macron reaffirms efforts to reopen Strait of Hormuz, as TotalEnergies warns of energy shortages
Image for France's Macron says EU mutual assistance clause is unambiguous
France's Macron says EU mutual assistance clause is unambiguous
Image for US to let Venezuela pay Maduro's lawyer in drug trafficking case
US to let Venezuela pay Maduro's lawyer in drug trafficking case
Image for Italy votes down equal parental leave while fathers redefine their role online
Italy votes down equal parental leave while fathers redefine their role online
Image for German auto industry faces even tougher competition as China economy slows
German auto industry faces even tougher competition as China economy slows
Image for Romania says drone fragments damage property during overnight Russian attack on Ukraine
Romania says drone fragments damage property during overnight Russian attack on Ukraine
View All Finance Posts