SKF Acquires Swedish seals company

SKF acquires Swedish seals company SKF has acquired Sealpool AB, a leading supplier in Scandinavia of sealing systems for reciprocating and static applications, mainly within the hydraulic and pneumatic market areas. - The acquisition will add key competence, especially within the field of sealing technology for hydraulic applications. The addition of Sealpool's modern and competitive product range is complementary to SKF's current offering and will strengthen our position within the market of industrial sealing systems, says Tom Johnstone, President of SKF Seals Division. SKF Seals Division, under the brand of CR, develops and markets sealing systems primarily for rotating applications, mainly within the automotive market areas in Europe and the US. Sealpool AB has 33 employees, an annual turnover of some 70 MSEK and is located in Landskrona, Sweden. Sealpool's Managing Director, Wilhelm Christerson, will continue to head the company with the aim to leverage the synergies with SKF and expand the business. - Sealpool will significantly benefit from being part of the SKF organisation, not the least through the global sales and distribution network, which will enable us to offer products and technical know-how world-wide, says Mr. Christerson. Göteborg, June 29, 2000 Aktiebolaget SKF (publ.) For further information, please contact: Lars G Malmer, SKF Group Communication, tel +46-(0)705-371541, e-mail: Lars.G.Malmer@skf.com Aktiebolaget SKF, SE-415 50 Göteborg, Sweden, tel +46-31-3371000, fax +46- 31-3372832, www.skf.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/29/20000629BIT00460/bit0001.doc http://www.bit.se/bitonline/2000/06/29/20000629BIT00460/bit0002.pdf