Nordic Business Report-June 21, 2006-SKF acquires John Crane Safematic Oy
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The Swedish bearings and seals manufacturer SKF said on Wednesday (21 June) that it has agreed to acquire the lubrication systems business of John Crane Safematic Oy, a Finnish subsidiary of Smiths Group Plc.
The purchase price is EUR22.9m.
The business to be acquired comprises manufacturing operations in Muurame in Finland, and sales offices in Sweden, Germany, the US and Brazil. The business has 127 employees and reported sales of EUR25m in 2005.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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