SKF affirms Automotive to hit margin target in '08

Newswire

POZNAN, Poland, May 28 (Reuters) - World number one bearings maker SKF repeated on Wednesday that it expected its Automotive division to reach its target of an operating margin of 6 to 7 percent for the full year 2008. SKF Chief Executive Tom Johnstone told journalists at a capital market day that the operating margin at the unit, the group's third biggest division, was seen hitting the target despite production cuts being carried out by North American automakers such as General Motors ...

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