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The eBearing News
June 30, 2006
SKF Acquires John Crane Safematic
copyright © 2006 eBearing Inc.
SKF AB (Sweden) has agreed to acquire John Crane Safematic Oy (Finland, a division of
Smiths Group plc, UK). Via the acquisition, SKF extends its
value-added lubrication system offerings.
Safematic manufactures
industrial grease and oil lubrication systems, including automatic systems, and
lubrication systems for heavy vehicles, off-road, construction, and agricultural equipment.
Acquired by John Crane in 1998 and headquartered in Muurame, Finland, Safematic has its manufacturing
operations there. Sales offices
are in Sweden, Brazil, Germany, and the United States. With 127 employees total, John Crane
Safematic had 2005 sales of approximately € 25 million (USD $32 million).
SKF said the acquisition was attractive because Safematic brings complimentary systems
to SKF's existing Lubrication Systems business unit, enabling it, "to offer our customers
a wider range of solutions and improved value propositions."
The acquisition is expected to be approved by competition authorities and be completed
by third quarter 2006. SKF said it will be a € 23 million cash transaction.
Mannheimer Swartling assisted SKF in the acquisition.
SKF's Lubrication Systems business unit is part of its Industrial Division.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Bruce Carr edited this content.
Copyrighted material; unauthorized reproduction prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2011, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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