SKF Acquires Leading US-based Bearing Company

Tag : bearing ball
SKF has signed anagreement with the owners of PEER Bearing Company (PEER) to acquirePEER and its manufacturing operations in China and Thailand. Thecompany manufactures mainly deep groove ball bearings and taperedroller bearings.

PEER is a US-based bearing company selling primarily to NorthAmerican customers. In 2007 the sales were almost 100 MUSD and thenumber of employees approximately 1400.

SKF is acquiring PEER to strengthen its presence in the NorthAmerican market in certain segments, not currently served by SKF,such as Lawn & Garden and Mechanical Power Transmission. PEERwill continue to operate as a stand alone business, actingindependently on the market under its existing brand PEER.

The acquired manufacturing plants are located in Xinchang andChangshan, China and Rayong, Thailand.

The acquisition is subject to certain conditions to closing andrequires approvals by relevant authorities.