Acquisition in Italy
SKF has signed an agreement to acquire GLO S.r.l. and its manufacturing operation in Italy from Metaldyne Corporation. In 2007 GLO had 50 employees and sales of around 17 million euros. The company, which is located in Poggio Rusco in the Mantova region of northeastern Italy, mainly manufactures constant velocity joints and drive shafts.
SKF has signed an agreement to acquire GLO S.r.l. and its manufacturing operation in Italy from Metaldyne Corporation. In 2007 GLO had 50 employees and sales of around 17 million euros. The company, which is located in Poggio Rusco in the Mantova region of northeastern Italy, mainly manufactures constant velocity joints and drive shafts.
With the acquisition of GLO SKF intends to broaden its existing product range and strengthen its presence, primar-ily in the vehicle aftermarket in Europe. GLO is a leading manufacturer in the European automotive aftermarket and has a broad range of products well suited for this market.
The acquisition is subject to certain conditions of closing and requires approvals by relevant authorities.
