Acquisitions to strengthen portfolio

SKF has signed a Memorandum of Understanding to acquire the German based company Willy Vogel AG, one of the world leaders in the field of lubrication systems

SKF has signed a Memorandum of Understanding to acquire the German based company Willy Vogel AG, one of the world leaders in the field of lubrication systems.

With annual sales in excess of GBP77million, the Vogel Group has two manufacturing units in Germany, one in France, one in the USA and one in Japan.

Vogel also has sales operations in these countries as well as in Belgium, Hungary, Italy, the Netherlands and Spain.

The company is present in most industrial segments such as machine tools, printing, automotive manufacturing, steel and windmills - all areas where SKF has a vast knowledge and is deeply involved.

"A deeper knowledge in lubrication is crucial in meeting the needs for increased service life, performance and reliability of our products and solutions," says Tom Johnstone, CEO of SKF.

"We have today, within the Group, very advanced knowledge in lubricants and lubrication systems that are vital design elements of bearings, bearing solutions and their applications.

Our total sales in this area amount to some SEK 200mn "In our acquisition analyses we saw an opportunity to significantly strengthen that knowledge and to acquire a leading market position within the lubrication systems area.

Through this acquisition, the SKF Group has established a new product platform to be added to bearings, seals, linear motion products and reliability systems".

Manfred Neubert, CEO of Vogel comments: "Being part of the SKF Group means excellent opportunities for our customers, employees and our company.

The SKF global presence will enable us to reach new customers and target new segments".

The acquisition is subject to the parties signing a definitive agreement and that necessary antitrust clearances are obtained.

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