SKF Acquires Remaining Part of US Based Seals Company

Resource from: CBCC Likes:2939

May 20,2009

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".

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