Word: skf
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Dates: during 1940-1949
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...invasion eve Portugal finally came through, banned all shipments of tungsten ore (also called wolfram, necessary in hardening steel) to Germany. Just after invasion, Sweden agreed to choke off an important German supply source. Sweden's SKF cut total ball-bearing shipments to Germany by one fifth. The withheld fifth included practically all Swedish bearings for Nazi tanks and planes...
Control to Batt. Of one thing there was little doubt - President Batt controls SKF Industries completely. In April 1940, when it appeared that the Nazis would in vade Sweden, he began negotiations with SKF (Sweden), which is 99.5% Swedish-owned, and which then owned 74% of SKF Industries and another subsidiary, SKF Steel. At Batt's request, SKF turned over to him its U.S. holdings, in trust, till war's end. Last week Batt brushed off rumors that the real boss of SKF Industries is Count Hugo von Rosen, whose brother is a Swedish quisling. Said Batt: Count...
...President Batt's explanations, SKF in Sweden last week added its own: that bearing shipments to Germany ($7,000,000 in 1944) are less than 10% of Germany's needs. The U.S. War Department was not so sure. It lost 60 Flying Fortresses and 600 men bombing Germany's ballbearing center of Schweinfurt, where the chief producer is an SKF subsidiary (TIME, Oct. 5). It suspects that SKF (Sweden) may now be supplying as high as 70% of Germany's needs of some special bearings...
...Hole. Fortnight ago, Foreign Economics Administrator Leo Crowley sent shrewd Stanton Griffis, executive committee chairman of Paramount Pictures, to Stockholm. He offered SKF up to $30,000,000 to buy for the U.S. all of SKF's output. If this fails, the U.S. will have virtually exhausted its pressure against SKF through its U.S. subsidiaries...
...Treasury has revoked permission for SKF Industries to send dividends to Sweden. But SKF can get along without them very well, as it now has upwards of $50,000,000 of cash on hand. Washington buzzed with talk that the U.S. will chop off the exports of SKF Industries to Latin America, which have been used to retain SKF's markets there. But these amount to a measly .2% of the production of SKF industries...