SKF India

#3226

Rank

$3.17B

MarketCap IN

IN India

Country

Summary
SKF India Limited supplies rotating equipment in automotive and industrial segment in India. It offers rolling bearings, bearings accessories, engineered products, and track rollers; and mounted bearings and housings, super-precision bearings, slewing bearings, plain bearings, and magnetic bearings and systems. The company also provides industrial seals, such as power transmission, hydraulic, fluid handling, and machined seals, as well as engineering services; automotive seals; and lubrication management products, such as automatic lubrication systems, lubrication system components, lubricants, lubricators, and manual lubrication tools. In addition, it offers maintenance products comprises hydraulic, mechanical, and alignment tools, as well as heaters; condition monitoring systems, such as basic and portable monitoring products, surveillance systems, and machine protection products; and power transmission solutions, including belts, pulleys, chains, sprockets, bushings and hubs, couplings, and bolts and tightening systems. Further, the company provides test and measuring equipment consisting of noise and vibration testers, grease test rigs, and waviness, roundness, as well as services for test and measuring equipment; and supplies replacement parts. Additionally, it offers technical consultancy, numerical simulation and design, and root cause analysis services; asset management; mechanical and condition based maintenance; remanufacturing; and training services in various fields. It serves aerospace, agriculture, cars and light trucks, construction, food and beverage, machine tools, marine, material handling, metals, mining, mineral processing and cement, ocean energy, and other industries. SKF India Limited was founded in 1923 and is based in Pune, India.

History

The development of SKF is a significant part of the Swedish and global machine industry development. AB SKF is established in Gothenburg in 1907 with the initial capital and startup project for ball bearing manufacturing of Gamlestadens Fabriker AB, under the guidance of co-owners and members of the board Axel Carlander and Knut Johansson Mark, following the invention of the spherical ball bearing by engineer Sven Wingquist. He was an operations engineer in Gamlestadens Fabriker AB and was then appointed CEO and technical manager in SKF. Industrialist Axel Carlander was the first chairman of the board of SKF from 1907 to 1937 during which time he implemented successful industrial and corporate managerial strategies for the startup and growth of SKF and the establishment of its factories outside Sweden.

Historically, the machine industry development and industrial production of innovative technical models depend on both engineering and industrial leaders, on the base of their educational, research and professional experience. In this context, the startup and growth of SKF has become possible due to the engineering experience and inventions of Sven Wingquist and the industrial managerial experience and strategies of Axel Carlander.

In 1906, Sven Wingquist patented the self-aligning ball bearings and in 1907 – the multi-row self-regulating radial ball bearing . He graduated Orebro Technical Elementary School in 1894, whereafter he started working as an engineer in Swedish textile factories, respectively Jonsereds Fabriker from 1896 to 1899 and Gamlestadens Fabriker AD from 1899 onwards. As an operations engineer responsible for repairs and maintenance at Gamlestadens Fabriker AD he sought opportunities to improve the efficiency and endurance of the ball bearings used at the time. Due to that, he was interested in a comparative study from 1902 about ball and plain bearings by professor Richard Stribeck of the Institute of Technology in Dresden, Germany. Sven Wingquist invented the first design of combined self-aligning spherical ball bearing. It was a revolutionary upgrade of the first ball bearing design which was invented and patented by British iron-maker Philip Vaughan in 1794 and the first design of self-aligning spherical plain bearing which was invented by Scottish engineer James Nasmyth around 1840. The historical development of bearing’s design is a result of revolutionary inventions and upgrades for improvement of their efficiency and endurance as well as broadening the scope of their application to a variety of machine industry sectors.

In 1917–1919 Arvid Palmgren, who started working as a research engineer in SKF, invented and patented the first design of double-row self-aligning roller bearing , the production of which continues to this day. He graduated in civil engineering at KTH Royal Institute of Technology in Stockholm in 1916 and became a Doctor of Technology in 1930 with dissertation thesis on the capacity of ball bearings. Arvid Palmgren is also author of the book ‘Ball and Roller Bearing Engineering’, published in 1945 and 1959.

The startup and growth of SKF depends not only on technical inventions but also on industrial and corporate management strategies and power. Axel Carlander is co-founder of SKF as a co-owner and member of the board of Gamlestadens Fabriker AB, which corporate policy provided conditions for experimenting with the new bearing models and the startup of SKF, and also he was the first chairman of the board of SKF who applied successful managerial strategies to the company startup and its development during the first 30 years. He graduated from the Gothenburg Trade Institute in 1886 and he is second generation industrialist with education and significant managerial experience in the field of economics, trade and industry. He developed his industrial and corporate strategies as co-founder and chairmen of the board of leading companies in Gothenburg, as co-owner and board member of the trade and textile company Johansson & Carlander and Gamlestadens Fabriker AB; co-founder and first chairmen of the board of SKF ; co-founder and first chairman of the board of shipping companies Swedish American Mexico Line ‘SAML’ and Swedish American Line ‘SAL’ ; board member of AB Volvo ; chairman of the City Council ; co-founder, donor and first chairman of Carlanderska hospital , as well as board member of other companies, banks, associations and foundations established for the benefit of business and society. SKF grew as a global company because of his successful industrial and corporate managerial strategies for its startup and growth during the first 30 years - for example in 1930 the company had 12 factories with 21,000 employees, two-thirds outside Sweden.The main corporate strategies of SKF have always been focused on the development and maintenance of the manufactured bearings and the manufacturing bases. As an exception, in 1917 AB Volvo was established at SKF to construct an innovative type of car with the implementation of new bearings. In 1926, the subsidiary automobile company Volvo was founded as an engineering project by Assar Gabrielsson, Bjorn Prytz and Gustaf Larson, and separated as an independent company in 1935. With this innovative startup project, SKF once again contributed to the Swedish and global machine industry development.

Today, SKF Group continues to be a global leader in the manufacture and maintenance of increasingly advanced bearings, such as the SKF Explorer and SKF Energy Efficient .

And the present progress of these bearings is due to the first inventions of Sven Wingquist.

Sven Wingqvist, at the time a thirty-year-old plant engineer responsible for repairs and maintenance at Gamlestadens Fabriker, was dissatisfied with the performance of the ball bearings then in use. In spring 1907, Wingquist presented a breakthrough: a double row self-aligning ball bearing with a spherical raceway in the outer ring, shared by both rows of balls. This allowed the inner ring to align freely in relation to the outer ring, with no negative impact on the function of the bearing. The new bearing solved the problem associated with misalignment of the shafts and thus did away with the frequent production stops. Self-alignment was particularly useful in the less-than-perfect machinery of the times and in buildings with subsidence problems, which was the case at Gamlestadens Fabriker, since much of the land on which Gothenburg has been built is clay.On 16 February 1907, Wingqvist applied for Swedish patent No. 25406, a multi-row self-aligning radial ball bearing. The Patent was granted on 6 June in Sweden coinciding with patents in 10 other countries. The new ball bearing was successful from the outset. Three years after SKF was founded, the company had 325 employees and a subsidiary in the United Kingdom. Manufacturing operations were later established in multiple countries.

By 1912, SKF was represented in 32 countries and by 1930, a staff of over 21,000 were employed in 12 manufacturing facilities worldwide with the largest in Philadelphia, United States.

SKF began its operations in India in 1923 by establishing a trading outpost in Calcutta. The early operations involved the importing of automotive bearings. SKF India Ltd was incorporated in 1961 following a collaboration between AB SKF, Associated Bearing Co. Ltd and Investment Corp. of India Ltd. In 1963, SKF set up its first bearing factory in Pune, Maharashtra.Assar Gabrielsson, SKF sales manager, and Björn Prytz, Managing Director of SKF were the founders of Volvo AB in 1926. In the beginning, the company functioned as a subsidiary automobile company within the SKF group. SKF funded the production run of the first thousand cars, built at Hisingen in Gothenburg, beginning in 1927. SKF used one of the company's trademarked names: AB Volvo, which derives from the Latin "I roll", with its obvious connotations of bearings in motion. The ownership of Volvo lasted until 1935 when the last shares were divested.

In order to expand its international business, SKF decided in 1966 it needed to use the English language. Senior officials, although mostly still Swedish, all learned English in all major internal documents were in English, the lingua franca of multinational corporations. In the 1970s SKF embarked on a massive production rationalisation program in Europe. A visionary project, "Production Concept for the 80s" was launched with the aim to run the night shifts practically unmanned. To increase productivity and safeguard the product quality, a continuous, automatic flow of bearing rings was needed, so SKF developed the Flexlink brand. FlexLink created the multiflex plastic chain conveyor system to solve the business requirements. SKF divested FlexLink as a separate company in 1997.


Mission
The undisputed leader in the bearing business

Vision
SKF India strives to be the most preferred and trusted bearing-maker in India, respected for its quality and dependability.

Key Team

Mr. Ranjan Kumar (Compliance Officer, Director of Ethics, Legal & Internal Audit and Company Sec.)

Mr. Alagesan Thasari (Director of Technology)

Ms. Dilnavaz Gulestani (Deputy Mang. of Legal & Secretarial)

Mr. Gautam Kumar (Director of HR)

Ms. Aparna Srivastava (Head of Corp. Communications, CSR & Sustainability)

Ms. Bharti Deshpande (Head of Internal Audit)

Mr. Soami Pamnani (Head of Knowledge Engineering)


Recognition and Awards
SKF India has been the recipient of numerous awards, including the Prime Minister's Exports Award, the Confederation of Indian Industry Award, the Economic Times Award, and the Prime Minister's Quality Review Award.

References
SKF India
Leadership team

Mr. Ashish Saraf (Chief Financial Officer)

Mr. Manish Bhatnagar (MD, CEO & Director)

Mr. Shailesh Kumar Sharma (Additional Whole Time Director, Director Manufacturing & Head Industrial Distribution Bus.)

Products/ Services
Industrial Engineering, Mechanical Engineering
Number of Employees
1,000 - 20,000
Headquarters
Bengaluru, Karnataka, India
Established
1923
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
SKFINDIA.NS
Social Media
Fri Mar 01 2024
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