Swedish bearings maker SKF secures $450 mln loan from EIB (updated)
22/11/2024 10:22
(Adds quote in paragraph 2)
STOCKHOLM, Nov 21 (Reuters) - Swedish bearings maker SKF
SKFb.ST said on Friday it has secured a loan of 430 million
euros ($451 million) from the European Investment Bank for
research and development into technologies particularly for the
green transition.
"The EIB financing will enhance our ongoing R&D initiatives
in crucial technological areas, such as green steel and
rotation, connectivity, oil regeneration, and laser cladding,"
SKF said in a statement.
($1 = 0.9537 euros)
(Reporting by Simon Johnson, writing by Louise Rasmussen,
editing by Stine Jacobsen and Jason Neely)
((simon.c.johnson@thomsonreuters.com; +46 70 721 1045; Reuters
Messaging: simon.c.johnson.reuters.com@reuters.net))