SKF (OSTO:SKF A), the Swedish ball bearing manufacturer, demonstrated the resiliency of its diversified business model. While automotive bearing sales were modestly lower, the company still delivered organic growth due to industrial bearings. A new roller bearing factory in China was projected to improve the group’s competitiveness in both business lines.
From Bernard Horn (Trades, Portfolio)'s second-quarter 2019 Polaris Global Value Fund shareholder letter.
