SKF has sold its Swedish machine-tool manufacturer LMT, Lidköping Machine Tools AB, to KMT, Karolin Machine Tool AB. The sale is part of SKF’s strategy to reduce its vertical integration and thus the amount of capital employed.
LMT, which has some 300 employees and estimated annual sales of 350 million Swedish kroner (USD 38 million), is a world leader in the manufacture of precision grinding machines. It has supplied SKF with state-of-the-art machine tools for many years. This will continue, as an agreement on technical cooperation and the supply of machine tools to the SKF Group is part of the deal.