SKF acquires remaining part of US-based seals company
In April 2006, SKF acquired 51 percent of the shares in US-based Macrotech Polyseal Inc. Part of the agreement was for SKF to acquire the remaining 49 percent of the shares within three years, and that is now completed. This will affect SKF’s cash flow by USD 25 million during the second quarter 2009.
The company, now called SKF Polyseal Inc., is based in Salt Lake City, Utah, 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.”