SKF acquires leading US based bearing company with manufacturing in China and Thailand
SKF has signed an agreement with the owners of PEER Bearing Company (PEER) to acquire PEER and its manufacturing operations in China and Thailand.The company manufactures mainly deep groove ball bearings and tapered roller bearings.PEER is a US based bearing company selling primarily to North American customers. In 2007 the sales were almost USD 100 million and the number of employees about 1400.SKF is acquiring PEER to strengthen its presence in the North American market in certain segments, not currently served by SKF, such as Lawn & Garden and Mechanical Power Transmission. PEER will