German divestment
SKF’s textile machinery premises in Stuttgart, Germany, were sold to DIBAG Industriebau AG for 9.3 million euros (USD 9 million). The profit from the sale of 57,000 square metres of office, industry and warehouse space has been set aside to finance restructuring measures during 2002. The sale is part of the SKF Group’s programme to reduce the amount of capital tied up in operations.
SKF’s textile machinery premises in Stuttgart, Germany, were sold to DIBAG Industriebau AG for 9.3 million euros (USD 9 million). The profit from the sale of 57,000 square metres of office, industry and warehouse space has been set aside to finance restructuring measures during 2002. The sale is part of the SKF Group’s programme to reduce the amount of capital tied up in operations.
