SKF divests metallic rods operation to Precision Castparts Corp.
SKF has signed an agreement to divest its metallic rods business to
US-based Precision Castparts Corp. (PCC) for around EUR 40 million on a
cash and debt free basis. This includes the sale of the operations at
the SKF sites in St. Vallier sur Rhône, France and Monroe, Washington in
the USA. During 2012, sales from these two sites were around EUR 46
million. The closing is expected in Q2, 2013.
“Our strategy in the aerospace segment is to strengthen our leadership
in our core competencies within bearings and seals and to further
develop our composite technology. The divestment of our metallic rods
portfolio to Precision Castparts Corp. supports this strategy. Their
focus on complex metal components for the aerospace segment makes this a
good fit,” says Stephane Le-Mounier, Director SKF Aerospace.
The sale affects around 230 employees in France and around 25 in the US.
SKF Aerospace provides highly engineered, customized solutions to
aircraft, helicopter, engine, and system manufacturers, including
main-shaft and transmission bearings, seals and precision elastomeric
Gothenburg, 14 March 2013
Aktiebolaget SKF (publ)
SKF is a leading global supplier of bearings (http://www.skf.com/portal/skf/home/products?contentId=876709&lang=en),
lubrication systems (http://www.skf.com/portal/skf_lub?lang=en),
and services (http://www.skf.com/portal/skf_lub/home/services?contentId=867934&lang=en)
which include technical support, maintenance and reliability services,
engineering consulting and training. SKF is represented in more than 130
countries and has around 15,000 distributor locations worldwide. Annual
sales in 2012 were SEK 64,575 million and the number of employees was
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