SKF Group history

In 1913 the company could literally afford to strengthen its position in the crucial German market by the acquisition of a half share in Norma Compagnie GmbH at Cannstatt.

1916: SKF acquires its first steel works.

The second decade of the century, however, was in general a period of continuous expansion for SKF. By 1919 it had 12 plants in full operation, a worldwide sales network, and a staff of almost 12,000.

Assar Gabrielsson, SKF sales manager and Björn Prytz, Managing Director of SKF were the founders of Volvo AB in 1926.

In 1927, SKF again displayed its eminence in the field of technological innovation when an employee patented a series of bearing measuring devices and established a set of measuring standards for use in the industry at large.

The Great Depression, which began in 1929, enabled SKF to buy a number of rival German bearings companies, giving the company a leading position in the important German market.

Special emphasis was placed on the development of new bearing types, leading in 1932 to the patenting of the 'narrow type' spherical roller bearing and the self-aligning spherical roller bearing.

SKF used Volvo as a practical testing ground for its bearings until 1935 when Volvo became an independent company.

From 1942 large-scale British and American bombing raids over France and Germany sought to achieve the wholesale destruction of Nazi Germany's industrial base and thus Germany's capacity to continue the war.

In 1943 the company introduced its revolutionary OK oil-injection shaft coupling, enabling rolling bearings to function efficiently in marine propeller shafts.

A notable feature of the immediate postwar decades was the rate of increase of automation in SKF's bearings production, facilitating the introduction in 1953 of SKF's first high-precision bearings.

1957: Hellefors Jernverk is acquired.

SKF India was incorporated on 12th April 1961.

To cater to the manufacturing demands the production activity in the first factory at Chinchwad Pune was started by the company in the year of 1965.

In 1968 SKF had centralized control of its activities by setting up its group headquarters in Göteborg.

In order to make full use of the opportunities created by the new EEC trading conditions, SKF instituted a global forecasting and supply system (GFSS) in 1974 to improve coordination of the type and quantity of bearings produced at its five major European plants.

1975: Company purchases a 66 percent stake in SARMA of France.

The German SKF subsidiary Seeger-Orbis had bought the British company Anderton in 1983 for £1.4 million, thereby placing SKF in a leading position in the European market and providing the group with another valuable bridgehead into the United States.

1986: Steel division is merged into Ovako Oy to form Ovako Steel AB, 50 percent owned by SKF.

In 1987 the bearings operations were once again restructured, this time around product types and functions, forming SKF Bearing Industries, SKF Bearing Services, and SKF Specialty Bearings.

Meanwhile, in 1988 the company opened the SKF College of Engineering, a testament to its long tradition of technical innovation.

In May 1989 the United States Commerce Department began imposing import duties as high as 50 percent and demanding a security deposit against every import shipment.

1990: Company acquires Chicago Rawhide, United States maker of oil seals.

The company posted three consecutive years of losses starting in 1991.

1995: The CARB, or compact aligning roller bearing, is unveiled.

In 1997 CR Seals India Pvt.

During the year 2002 the company had established the SKF Center for Learning and also in the same year SKF became the first bearing company in India to secure ISO/TS-16949 for the Automotive Business Unit.

Also in the identical year of 2004 SKF India had acquired Vibration Engineer and Consultants Pvt Ltd.

During the year 2006 the company had received the Dun & Bradstreet American Express Corporate Award and also rated as top Indian company in the Bearings Sector.

In February 2007 the company had introduced its power transmission products in the Indian market.

SKF India entered into a long-term relationship with wind power firm Suzlon Energy in November 2008 for supplying bearings for Indian wind turbine maker Suzlon Energy the deal covers the worth of Euro 303 million.

On 27 April 2009 SKE India announced the beginning of work for the new manufacturing site in Haridwar Uttarakhand.

By 2013, SKF Industrial Market, Regional Sales and Services, made up about 40% of SKF’s total sales.”

The main objective will be to conduct testing at close proximity to its customers for design process and supplier validation.On 5 May 2015 SKF India announced that it has signed a strategic agreement with Regen Powertech a leading Indian wind turbine manufacturer.

The Board of Directors of SKF India at its meeting held on 13 February 2017 approved a proposal for buy-back of fully paid up Equity Shares of the company (Buy-back) through the 'Tender Offer' method at a price of Rs 1500 per equity share aggregating to an amount not exceeding Rs 390 crore.

SKF India Pune factory won the Frost & Sullivan Manufacturing Excellence Awards 2018 for the Future Ready Factory for Engineering Sector Large Business.