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SKF Group completes divestiture of metallic rods operation to Precision Castparts Corp.

2013 July 03, 10:00 CEST

Gothenburg, Sweden, 03 July, 2013: SKF’s divestiture of its metallic rods business to US-based Precision Castparts Corp. is now closed. Precision Castparts Corp. (PCC) acquired the operations for around EUR 40 million on a cash and debt free basis. This includes the sale of the operations at the SKF sites in St. Vallier sur Rhône, France and Monroe, Washington in the USA.

During 2012, sales from these two sites were around EUR 46 million. The sale affects around 230 employees in France and around 25 in the US.

SKF Aerospace provides highly engineered, customized solutions to aircraft, helicopter, engine, and system manufacturers, including main-shaft and transmission bearings, seals and precision elastomeric devices.

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SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2012 were SEK 64,757 million and the number of employees was 46,775.

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