SKF acquires the Bulgarian bearing company VMZ

SKF acquires the Bulgarian bearing company VMZ SKF has acquired the bearing business of VMZ, from the Bulgarian State. The VMZ bearing operations comprise four factories in Bulgaria, at Sopot, Kalofer, Karnare and Bogdan, with Head Office in Sopot, 120 km. east of Sofia. VMZ manufactures deep groove ball bearings in the 22mm to 100mm outer diameter range. Factories are equipped with updated technology, and the company has approximately 1600 employees. VMZ is one of Central Europe's leading bearing brands, and the company's exports are mainly to markets in Central and Eastern Europe. Through this acquisition, SKF substantially strengthens its position in the Central and East European markets, where growth and development are taking place at a rapid rate. The new company will be named SBB (SKF Bearings Bulgaria EOOD) and will be part of the SKF Electrical Division. Initially, SKF will be focusing on upgrading manufacturing processes and improving productivity. This new acquisition confirms SKF's commitment to grow and strengthen its position in Central and Eastern Europe. Göteborg, March 18, 2002 Aktiebolaget SKF (publ.) For further information, please contact: Lars G Malmer, SKF Group Communication, tel. +46 31 337 1541, e-mail: Lars.G.Malmer@skf.com Aktiebolaget SKF, SE-415 50 Göteborg, Sweden, tel. +46 31 337 1000, fax +46 31 337 2832, www.skf.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/03/18/20020318BIT00570/wkr0001.doc http://www.waymaker.net/bitonline/2002/03/18/20020318BIT00570/wkr0002.pdf