SKF Acquires Leading US-Based Bearing Company

Tag : bearing ball
SKF has signed an agreement with theowners of PEER Bearing Company (PEER) to acquire PEER and itsmanufacturing operations in China and Thailand. The companymanufactures mainly deep groove ball bearings and tapered rollerbearings.

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. PEER willcontinue to operate as a stand alone business, acting independentlyon 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.