Word: skf
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...weeks the U.S. has turned up the heat on the giant Swedish ball-bearing trust, SKF, trying to make it stop exports to Germany. Last week the heat backfired. In Philadelphia, where SKF's U.S. subsidiary has three plants, production of bearings-now a No. 1 shortage...
...slumped drastically. The reason: SKF employes, confused by all the niff-naw, thought that the bearings they were making were going to Germany...
Hastily, WPB Vice Chairman Bill Batt, who is also president of the U.S. subsidiary SKF Industries, Inc., flew to Philadelphia. Flanked by Army and Navy offi cials, he stood on a flag-bedecked plat form to assure his 8,000 workers that SKF Industries is an "American company operated by American people." The Treasury and the Alien Property Custodian, which have been quietly probing SKF Industries, chimed in with praise for its "excellent'' war record. But many a question about SKF was still unanswered...
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...
...SKF's U.S. branch has four factories, all greatly expanded by U.S. war production...