Automotive and industrial engineered solutions provider SKF India’s parent company, AB SKF, announced plans on Tuesday to separate its global automotive business, with intentions to list it on Nasdaq Stockholm by mid-2026.

This decision, revealed during a board meeting on September 17, 2024, is part of a strategic shift to better focus on the distinct needs of its automotive and industrial operations.

The separation will be executed through a Lex Asea distribution to AB SKF’s shareholders, a process that allows the new automotive entity to become an independent company. The move aims to provide both the automotive and industrial segments with the autonomy to pursue their respective growth strategies more effectively.

To facilitate this transition, SKF India’s board has formed a committee to review and develop the necessary proposals for the separation. The company has also implemented a trading window closure for its directors, promoters, and insiders, which will remain in effect from the end of the board meeting until 48 hours following the final decision on the separation.

In a separate announcement, SKF India announced the resignation of David Leif Henning Johansson, effective from the end of the September 17 meeting, due to other commitments. The company also appointed Kerstin Enochsson as a Non-Executive Non-Independent Director, effective immediately, pending shareholder approval. Enochsson brings extensive experience in supply chain management and procurement, having previously worked with Volvo and Deutsche Bahn.