Nordic Business Report-April 7, 2006-SKF acquires US company Macrotech Polyseal Inc
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The Swedish seals and bearings group AB SKF said on Thursday (6 April) that it has agreed to acquire US industrial seals company Macrotech Polyseal Inc.
SKF has already acquired a 51% stake for USD21m and has agreed to acquire the remaining shares within three years.
Macrotech Polyseal manufactures fluid power seals based on polyurethane technologies and engineered plastics. It has two production plants and 397 employees. Annual sales amount to approximately USD33m.
Macrotech Polyseal will be integrated into SKF's Sealing Solutions unit within the Automotive Division.
One US dollar (USD) is worth approximately 0.57 British pounds (GBP).
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