SKF acquires Swedish service company

SKF acquires Swedish service company SKF has acquired Nåiden Teknik AB (NTAB), a leading mechanical condition monitoring company in Sweden with an annual turnover of some MSEK 20. Nåiden employs 19 people at its Luleå headquarters and at three other locations in Sweden. It is also represented by distributors in several other countries. Nåiden develops and markets condition monitoring hardware and software for customer specific applications in hydropower, steam and gas turbines, and for marine and train applications. In addition, Nåiden offers contract services to provide customers with a total monitoring package. The company has specific competencies and an excellent track record with regard to solutions, products, service and support in mechanical condition monitoring within a wide range of industrial applications. "Nåiden Teknik brings to SKF unique competences in the areas of monitoring and protection systems, decision support systems, contract services and related computer hardware and software that will enhance the total maintenance service capability that SKF is offering customers," says Phil Knights, President of SKF Service Division. "Joining up with SKF means that Nåiden Teknik gets access to SKF's global resources and service network. Right now Nåiden is introducing a number of new products on the international market where SKF will give additional strength to this investment," says Professor Bengt Stillborg, Managing Director of Nåiden Teknik. This acquisition is part of SKF's strategy to expand into the service market by selling not only bearings and seals but also mechanical services, preventive and predictive maintenance, and condition monitoring solutions in order to optimize asset efficiency. The benefit for customers is improved plant reliability, which, in turn, raises productivity levels and improves profitability. Göteborg, June 28, 2001 Aktiebolaget SKF (publ.) For further information, please contact: Lars G Malmer, SKF Group Communication, tel +46-(0)31-3371541, e-mail: Aktiebolaget SKF, SE-415 50 Göteborg, Sweden, tel +46-31-3371000, fax +46-31-3372832, ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group’s service offer includes technical support, maintenance services, engineering consultancy and training.