SKF’s Acquisition of US Basedbearing Company Now Closed

Resource from: CBCC Likes:2948

Sep 17,2008

SKF's acquisition of PEER Bearing Company (PEER) and its manufacturing operations in China and Thailand has now been closed. PEER's sales 2007 amounted to almost USD 100 million and the number of employees is about 1400. PEER is selling primarily to the North American market and to certain segments, not currently served by SKF. PEER will be a wholly owned subsidiary of SKF Group and continue to operate independently on the market under its existing brand PEER. The business will be reported separately and included in the Group's reporting during the fourth quarter. The acquired manufacturing plants are located in Xinchang and Changshan, China and in Rayong, Thailand. PEER's main Sales operation is in Illinois, USA.

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