SKF acquires remaining part of US based seals company
2009 May 19, 13:00 CET
In April 2006, SKF acquired 51% of the shares in Macrotech Polyseal Inc. Part of the agreement was for SKF to acquire the remaining 49% of the shares within three years, and that is now completed. This will affect SKF’s cash flow with USD 25 million during the second quarter 2009.
The company, now called SKF Polyseal Inc., is based in Salt Lake City, Utah, USA, and offers sealing solutions for a wide range of industries. In 2008, the turnover was USD 39 million and the number of employees was 373.
Dan E Reed, President SKF Sealing Solutions, SKF USA Inc., says: “through this acquisition, SKF has acquired a leading position in the North American fluid power seals market”.
Göteborg, 19 May 2009
|AB SKF may be required to disclose the information provided herein according to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13.00 CEST on 19 May 2009.|
For further information, please contact:
PRESS: Ingalill Östman, SKF Group Communication, tel: +46 31-337 3260, mobile: +46 706-973260, e-mail: firstname.lastname@example.org
IR: Marita Björk, SKF Investor Relations, tel: +46 31-337 1994, mobile: +46 705-181994, e-mail: email@example.com
SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group’s service offer includes technical support, maintenance services, engineering consultancy and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. The Group’s annual sales 2008 were SEK 63,361 million. The number of employees was 44,799.