Acquisition of cleantech company
SKF has acquired RecondOil Sweden AB, a Swedish cleantech start-up that has developed a chemical filtration and rejuvenation process for industrial lubrication fluid and slop oil. RecondOil’s patented double separation technology enables the circular recovery of oil and the reuse of industrial oils with their original properties.
“This acquisition is a good strategic fit for us,” says SKF President and CEO Alrik Danielson. “It complements our existing offering around the rotating shaft and will strengthen our ability to offer customers a fee-based value proposition in which lubrication management systems play an important role. It is also in line with our ambition to develop and offer solutions that help customers reduce the environmental impact of their own operations.”