SKF Vertevo will be the name of SKF’s Automotive business as a stand-alone company, it says. The company said the announcement marks a significant milestone in SKF’s process to create two strong, focused and independent businesses that can accelerate profitable growth and secure long-term value creation for customers, shareholders and other stakeholders.
“The separation of our Automotive business is proceeding according to plan. Today marks another major step on this journey and on becoming a stand-alone company, as we reveal the name,” said Rickard Gustafson, President and CEO.
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“The name SKF Vertevo highlights our heritage and additionally combines two powerful ideas: vertere, Latin for‘to turn’or ‘to transform’, and evo, short for ‘evolution’. Together, they express movement, progress, and change. It’s short, bold, and memorable – a name that works across cultures and captures our story”, says Kerstin Enochsson, President Automotive.
As previously communicated, SKF’s objective is to list SKF Vertevo on Nasdaq Stockholm during Q4 2026, subject to the Board of Directors proposing a distribution and listing of the Automotive business and the shareholders’ approval.
The SKF Automotive business is still part of the SKF Group and a subsidiary of AB SKF. The name SKF Vertevo will publicly start to be used in conjunction with a potential listing.
The rationale for separation
SKF has said previously that given different business dynamics, end markets and success drivers for the Industrial and Automotive business segments, a separation will ‘facilitate a clearer focus on distinct opportunities to enhance customer value, accelerate growth as well as improve efficiency and competitiveness’.
“Both businesses are global leaders in their respective fields and will through a clearer focus increase customer value and leverage on their strategies as standalone companies. The Board of Directors and Management therefore believe that long-term value can be created by splitting the Group into two separate companies, benefiting customers, employees and shareholders”, said Hans Stråberg, Chair of SKF Board of Directors.
SKF maintains that a separation would increase Automotive’s ability to adapt faster to transforming global automotive markets, by allowing it to make independent business decisions and investments. A more tailored, leaner Automotive business model will further strengthen its competitive advantage and capture additional profitable growth opportunities, while at the same time accelerating its profitability transformation, the company said.
