SKF has acquired US-based PEER Bearing Company and its manufacturing operations in China and Thailand. PEER sells primarily to North American customers, and its main sales operation is in Illinois. In 2007 it had sales of almost 100 million US dollars (80 million euros) and 1,400 employees. The acquisition of PEER will strengthen SKF’s presence in the North American market in segments not currently served by SKF, such as lawn and garden and mechanical power transmission. PEER will be a wholly owned subsidiary of the SKF Group and continue to operate independently on the market under its existing brand PEER. The business will be reported separately and included in the Group’s reporting during the fourth quarter.